The Hindu Business Line : `Strictest action against stock scam offenders'

THE Government on Friday tabled the third progress report on actions taken regarding the Joint Parliamentary Committee's recommendations about the March 2001 stock market scam with assurances that the strictest possible action are being taken against those found guilty.

"The Common Minimum Programme clearly mentions our determination to ensure that the strictest possible action will be taken against market manipulators and those who try to deliberately engineer market panic," the Finance Minister, Mr P. Chidambaram, told the Lok Sabha.

Stating that the Government had already promulgated the Securities Laws (Amendment) Ordinance 2004 amending the Securities Contract Regulation Act, 1956, the Minister said this would help provide liquidity in investments made largely by small investors in remote corners of the country in small and medium cap companies by providing for a national trading platform, Indonext, for trading of such shares.

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`Strictest action against stock scam offenders'