Concept paper for curbing SEBI powers in inspecting co accounts.

(From Business Line)

New Delhi, Sept. 10 - THE Securities and Exchange Board of India's (SEBI) powers to inspect the books of accounts of a company may be curbed if the Government accepts the suggestions in a concept paper on the revamp of Company Law.

The concept paper has suggested that the inspection powers of SEBI be restricted to those sections of the Company Law that have been delegated to the market regulator, i.e., those that relate to issue and transfer of securities and non-payment of dividend.

Further, these powers would be administered by SEBI in cases of listed public companies and those that plan to get listed.

Under the …