SEBI, IT department and SIT Spearheading Multiagency probe against 100 listed companies

Admin   |   24 December, 2014   |   542   |   3980

The Securities and Exchange Board of India (Sebi), the income-tax department and the special investigative team (SIT) on black money are learnt to be spearheading a multi-agency probe into an alleged flow of unaccounted money through 100 listed companies.



According to sources, Sebi is examining the role of these companies in misuse of the exchange platform to launder money and evade taxes. In the near term, the regulator might pass an order against 25 of those. Considering the number of companies involved, regulatory estimates peg the quantum of the alleged scam at close to Rs 20,000 crore.