Search the Internet          Tips  Sites: Finance, Investment

JPC will probe UTI role in buying or selling during scam

The Joint Parliamentary Committee probing the stock scam that rocked the country earlier this year will look into the role of UTI as regards its buying or selling during the scam period.

"We will look into any buying or selling undertaken by the UTI during the scam period. To this extent they will be investigated," JPC chairman Prakash Mani Tripathi told reporters after a meeting of the committee.

The JPC chairman has already made it clear that the other aspects of UTI will not be looked into.

On today's meeting, Tripathi said the representatives of Department of Company Affairs briefed the members on the role of the organisation.

"Though the role of DCA has diminished insofar as stock market operations are concerned which have been taken over by the Securities and Exchange Board of India, it still has a role to play in certain areas," he said.

The DCA secretary V Govindarajan briefed the members on the role of organisation with focus on book keeping and book inspection, he said.

Tripathi said the committee was providing sufficient time for the members to acquaint themselves with the working of the various agencies connected with the stock market through the technical briefings before beginning the investigations.

YOU MAY ALSO WANT TO SEE:
The Capital Markets Crisis

Tell us what you think of this report