Markets regulator Securities and Exchange Board of India (Sebi) will update its board on Monday on action being taken against suspected shell companies allegedly abetting routing of illicit funds through stock markets.
Those under scanner include over 300 listed companies as also hundreds of unlisted entities and individuals, suspected to be misusing the stock exchange platform for tax evasion, among other wrongdoings, a senior official said.
Besides, the board would consider other proposals including expediting settlement proceedings and streamlining its internal mechanism to better decide on whether they need soft or hard enforcement actions.
