T. Subbarami Reddy for fair play by Sebi

New Delhi:Contending that the securities exchange board of India has an important role to play as a watchdog, senior Congress leader T. Subbarami Reddy on Tuesday said the regulatory body should also ensure that innocent entrepreneurs do not suffer because of its action.

Initiating the debate on the Securities Laws (Amendment) Bill, 2014 in the Rajya Sabha, the MP said the UPA government through three successive Ordinances conceived the Bill. “It is very much necessary to give more powers to control fraudulent investment schemes by entrepreneurs,” he said while citing the Saradha Deposit Scam.

“If such scam takes place, the entire business community gets tarnished and this affects the economy and the market. The growth also gets affected,” Mr Reddy said.