New Delhi: As many as 124 prosecution cases launched by Sebi for violation of various capital market norms resulted in compounding till date, including Adani Exports and Alchemist Corporation.
In as many as 75 cases, the accused were declared as proclaimed offenders, as per the latest update by the Securities and Exchange Board of India (Sebi). Besides, 167 such cases resulted in convictions in the prosecutions filed by the watchdog till date, the Sebi data showed.
Till May, the markets watchdog had launched as many as 565 prosecution cases against those collecting public money through illegal schemes and over 1,000 other cases for violation of securities norms.
The regulator has been granted more powers through amendments to the Sebi Act to pass attachment orders and launch recovery proceedings against fraudsters and market manipulators, including those running illegal deposit schemes and those failing to pay penalties and other dues.
A special court is also hearing several cases, filed by the regulator, which would help fast-track the prosecution and recovery proceedings against the defaulters.