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INDIAN LAW, FINANCE MINSTRIES IRON OUT DIFFERENCES OVER SEBI ACT.
NEW DELHI, June 3 Asia Pulse - India's Finance and Law ministries have ironed out their differences over whether to provide more search and seizure powers to market regulator the Securities and Exchange Board of India to minimise the recurrence of scandals.
The differences were sorted out at a 90-minute meeting between Law Minister Arun Jaitley and Federal Finance Minister Yashwant Sinha on Friday.
Official sources said the 2 ministers had agreed to granting limited powers to SEBI with certain safeguards to prevent any misuse.
Economic Affairs Secretary C M Vasudev and Company Affairs Secretary V K Dhall and the SEBI Chairman G N Bajpai will meet next week to work out the details.
The details, after the Cabinet's approval, ...
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Source: HighBeam Research, INDIAN LAW, FINANCE MINSTRIES IRON OUT DIFFERENCES OVER SEBI ACT.