Corporate Affairs Minister Arun Jaitley has informed Parliament that the Securities and Exchange Board of India (SEBI) has not published any list of more than 100 benami, bogus ponzy scheme companies.
He said in a written reply to the Lok Sabha that chit funds are regulated under the Chit Funds Act, 1982 and require previous sanction of the state governments.
He also said that the Prize Chit and Money Circulation (Banning) Act, 1978 bans prize chits and money circulation activities is enforced by state governments.
Collective Investment Schemes (CIS) as defined under section 11AA of the SEBI Act, 1992 are regulated by SEBI and it has passed 73 interim and 23 final orders in CIS cases during the last three years.
