Strengthening of rules governing insider trading is among the key proposals in the agenda set by Sebi for 2018-19, along with making improvement to the Prohibition of Insider Trading Regulations (PIT) and Prohibition of Fraudulent and Unfair Trade Practices regulations.
SBI Capital, Axis Capital, GMR Holdings, United Breweries, Alpic Finance (a Cipla group unit), Saradha Realty, United Bank of India and Trident India are among the prominent entities named in the list.
The task force has provided probe agencies with a list of attributes, including disproportionate investments, debt, advances or cash, to red-flag such firms.
If advance tax revenue fails to meet the expected growth, these PSUs could be asked to pay taxes on past demands raised against them.
According to ED sources Sunil Mehta said the fraud took place due to "systemic failure" and "procedural lapses", owing to lack of interface or proper links between the core banking software and the SWIFT interbank messaging system.
Among the seizures were Indian masters such as FN Souza, VS Gaitonde, SH Raza, Amrita Sher-Gil and Akbar Padamsee, sculptures from Italy and the US, Chinese artwork and masterpieces by Xu Lei and Zeng Xiaojun.
Overseas bourses may take similar action and stop providing data on foreign indices and commodities traded in India, Ashish Chauhan, chief executive officer, BSE said.
The move is meant to curb or reverse the export of India's financial markets to overseas trading platforms.
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The allegation against Khan is that he had applied to purchase the agricultural land for farming but constructed a farmhouse for personal use instead.
The regulator will conduct forensic audit of all the seized documents, laptops, and mobile phones, which are suspected to be involved in the fraudulent activity, reports Shrimi Choudhary.
Experts said the outcome isn't surprising as the action initiated by Sebi was not after an investigation or findings.
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The assets mentioned in the Sebi order are already in possession of the ED for violation of an anti-money laundering law by Mallya and PMLA overrides all other laws, providing ED first right over the assets.
Specific sections of the Companies Act need to be amended to empower Sebi to regulate or take penal action against an unlisted entity and its promoters for violating the insider trading and other securities norms.
The onus of the tax dues of Rs 22,100 crore on Vodafone India's British parent could also fall on the merged entity.
The reward could vary between 1% and 5% of the total tax paid.
2,138 firms deposited unaccounted Rs 5,000 cr in zero-balance accounts during the note ban
This is the new addition to the tax data, which had identified over 600,000 people for scrutiny over huge inconsistencies in the cash deposits
In the 25-page defence evidence affidavit, which was served to the UK Crown Prosecution Service, Mallya is learnt to have alleged that his was a case of "political vendetta" and "loss-making business".
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