Today, Cabinet Committee on Economic Affairs passes Security bills to empower the market regulator Sebi to deal with Ponzi schemes. Now Sebi have sweeping powers like attachment of properties, launch of recovery proceedings, seeking call data records to investigate cases and ordering search and seizure against manipulators and fraudsters.
Once the amendment, approved by the CCEA, is passed by Parliament, Sebi would get the requisite powers to deal with economic offences of serious nature.
