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.
Analysts say IT major cleaning up act before new CEO takes over; regulator might take a year
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".
Batting for greater transparency, a Sebi panel said sound corporate governance helped companies generate "significantly greater returns".
The move follows poor results in detecting undisclosed foreign assets and delay in concluding pending matters under the Black Money Act, which came into effect in 2015. According to the official data, only 52 cases have been identified so far. Of these, nine are from Mumbai alone.
'If anybody defaults on something which is due for today, they have to disclose it tomorrow.' 'The accumulation of NPAs is due to asymmetry in information.' 'The investor should have real-time information.'
'We saw people tripping over each other, running, screaming.' 'You could see people running with their daily briefcase despite suffering deep cuts and blood pouring from them.'
It will launch jurisdiction-free assessment from October
This is the first big move in the investigation of the British Virgin Islands list where the I-T department has found a significant amount of tax evasion.
Linking all accounts is a difficult and costly task for brokers
Legal experts fear such shareholder activism could turn into a class-action suit against Infosys
After initiating stern action against 331 companies, the market regulator seems willing to revoke its stringent restrictions for some entities.
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