The Bill seeks to give Sebi sweeping powers like attachment of properties and launch of recovery proceedings.
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 new norms also seek to ensure that sufficient safeguards are put in place to avoid any misuse of its new powers and the required privacy of individuals is granted while conducting search and seizure operations.