In June the Securities and Exchange Board of India, the country’s markets regulator, disciplined two media tycoons for alleged wrongdoing and strengthened disclosure norms for foreign investors.
Going all-in on the Adani case would entail working with other law enforcers, such as the Directorate of Enforcement and the Directorate of Revenue Intelligence.
Unless Buch’s team pulls out all the stops, the regulator’s toughest test under her leadership so far is a threat to its rising credibility.
The markets regulator on June 12 barred Zee Entertainment Enterprises CEO Punit Goenka and Chair Emeritus Subhash Chandra from holding key managerial positions in any listed company.
In a separate order dated June 22 Sebi barred Eros group Managing Director Sunil Arjan Lulla and three group entities including Eros International Media from the securities market, citing accounting irregularities.
Persons:
Puri, Gautam, Punit Goenka, Subhash Chandra, Breakingviews, Sebi, Sunil Arjan Lulla, Antony Currie, Katrina Hamlin
Organizations:
Reuters, Securities and Exchange Board of India, Zee Entertainment Enterprises, Eros International, Reuters Graphics Reuters, of Revenue Intelligence, Securities, Exchange Board, India, Eros International Media, Thomson
Locations:
MUMBAI