Irregularities in IPO

The two member committee appointed for the issue between SEBI and NSDL in the IPO irregularity in 2005 by SEBI is now considered null and void.

The report by the committee stated lack of duties in cross checking and had queries with SEBI. Thereafter, there was an issue as to why this order has not been put out in the public domain.

After lots of discussion and legal advices the committee was found to be beyond its term of reference. SEBI has decided to look into the matter afresh and considered previous judgement null and void.