Corporate fraud is finally securities fraud

Topics corporate fraud | Sebi

It has taken a long time coming — but after 28 years, finally it’s here. The Securities and Exchange Board of India (Sebi) has notified an amendment to regulations prohibiting fraudulent and unfair trade practices to include fudging of accounts of listed companies as a fraudulent practice relating to securities markets. The regulations have been amended to clarify that “any act of diversion, misutilisation or siphoning off of assets or earnings of a company whose securities are listed” shall be deemed to have been considered as manipulative, fraudulent and an unfa.....

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