INSUBCONTINENT EXCLUSIVE:
New Delhi: Securities Exchange Board of India (Sebi) chairman Ajay Tyagi has said instances of crises at various entities in the financial
sector were affecting investor confidence, but does not indicate a problem for the entire sector.
Tyagi said the market regulator has
asked whether crisis at DHFL, IL-FS and KSBL have impacted investors' trust
Sebi barred Karvy Stock Broking (KSBL) from taking new clients in respect of its stock broking activities, on November 22, and also
prevented it from using the power of attorney (PoA) given by clients after the broker was found to have allegedly misused clients'
Tyagi, who was speaking at an event, said he was hopeful of the positive impact of the Insolvency and Bankruptcy Code (IBC) that will be
visible on the domestic corporate debt market in five years.
Describing the insolvency law, which came into effect in Dec 2016, as a
He added that there was scope for further improvement, and that the Insolvency and Bankruptcy Board of India was already looking into a
comprehensive mechanism for insolvency proceedings.