Market regulator Sebi has sought major overhaul of the securities laws, including greater authority to nail manipulators by way of powers to conduct ‘’search and seizure’’ operations and to demand information from any person in relation to its probes. It has also proposed the recovery of monetary penalties through income-tax arrears mechanism, setting up of special courts to deal with criminal prosecution for violation of securities laws and recognition of Sebi’s counsels as public prosecutors..........
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