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SEBI final report on IPO scam soon

Our Bureau

New Delhi , April 6

The Securities and Exchange Board of India is expected come out with a final report on investigations into the IPO allotment scam shortly.

According to SEBI sources, the final report is expected to reveal names of more people and banks involved in the multiple IPO share application irregularities.

SEBI investigations are still on and the final report is expected shortly, a SEBI source said. SEBI officials made a presentation to the Standing Committee of Parliament on Finance here yesterday.

The Reserve Bank of India had fined several banks, which were found guilty of irregularities in opening DP accounts.

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