Sebi chief pitches for review of law after recent setbacks in SC

Updated: Oct 1 2022 12:03PM

Mumbai, Sep 30 (PTI) After some recent setbacks in the Supreme Court where its orders were struck down, Sebi chief Madhabi Puri Buch on Friday said there is a need to review old laws by which the capital market regulator functions.

She said the body formed in 1992 will also review its own processes including investigations and order passing as well. The comments come after some recent cases including the Whatsapp leak case, where the Supreme Court dismissed the Sebi appeal. The Sebi Act of 1992 forms the legal basis by which the regulator works.

“Our legislation may also need a review, because the law is written 20-25 years ago. There were no channels of communication back then like the ones today, we could not even imagine that there would be a telegram-like app,” Buch said.