Sunday, August 30, 1998
Sebi wants powers on insider trading
After the Hindustan Lever insider trading case fiasco, the Securities and Exchange Board of India (SEBI) has made a plea to the Union government to grant it more powers to tackle the growing menace of white collar crimes. The regulatory body is lobbying for more monetary penalties to punish erring companies for insider trading.
Ministry forces FIPB to defer Tata project
The Civil Aviation Ministry on Saturday once again prevailed upon the Foreign Investment Promotion Board (FIPB) to defer a decision on the Tata Airlines' proposal for a period of six weeks. The Chairman of FIPB and industry secretary, T R Prasad said, "the civil aviation ministry asked us for more time as it is setting up an expert committee to study the objections raised by some members of parliament (MPs) and certain trade unions against theairline proposal".
ISE starts trial runs successfully
The Inter-connected Stock Exchange (ISE) promoted by 15 regional stock exchanges on Saturday successfully carried out trial runs by executing orders across the participating exchanges through its central trading system at Navi Mumbai. The exchange proposed to go live with on-line real-time trading of scrips within next one month.
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