The Hindu Business Line : `SEBI report on May 17 market crash ready'

THE Finance Minister, Mr P. Chidambaram, said the Securities and Exchange Board of India's report on the stock market crash on May 17 was ready and this would soon be published.

``SEBI has nearly finalised its report, and it will take action against a few people in the next few days,'' Mr. Chidambaram said at the sidelines of the 10th anniversary celebration of the NSE.

SEBI sources confirmed that the report is likely to be published early next week.

On the Securities Appellate Tribunal's (SAT) order throwing out SEBI's five-year ban on Mr Samir Arora, the Minister said that if SEBI is convinced about its action against Mr Arora, it could appeal against the order in the Supreme Court.

"If they are not happy (with the order), SEBI has to look to see where they went wrong. Anyway it would not be the first time that SEBI has appealed against SAT orders," he commented.

Even as he spoke, there were signals from the regulator's office that suggest that SEBI has approached the Supreme Court on this already. Mr G.N. Bajpai, Chairman, SEBI, declined to comment on the issue.

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