India’s stock market regulator, Securities and
Exchange Board of India (SEBI) said it will look into recent crackdown on the
alleged leak of classified official documents at the behest of corporate groups
to ensure that such leaks were not used to push up or pull down the share
prices of listed companies.
A senior SEBI official said depending on the
progress of the inspection, which involves analyzing trading and share price
trends in a host of energy companies including some large firms from private as
well as public sector, further action would be initiated by the regulator.
Those found to have traded on the basis of stolen
information from government offices could be probed under insider trading and
prevention of fraudulent and unfair trade regulations. They would be subjected
to stern penal action by SEBI, he added.
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