Sebi mops Rs 73 cr through consent orders in 2010-11

The Securities and Exchange Board of India (Sebi) collected about Rs 73 crore through consent settlement and compounding in the financial year ended March 31 — the highest since the market regulator introduced the mechanism to settle investigations. Sebi received 359 applications for consent and compounding in FY11, said the regulator’s annual report available on its website. Out of this, Sebi approved 185 applications to settle various kinds of enforcement actions. In January this year, Sebi had imposed one of the highest-ever consent charge on the brass of Reliance Infrastructure and Reliance Natural Resources, directing them to pay Rs 50 crore as settlement charges. In 2009-10, Sebi had collected Rs 68.61 crore through the consent and compounding process of 363 applications. The regulator had collected Rs 3.09 core and Rs 46.12 crore in 2007-08 and 2008-09, respectively.

Source : http://www.business-standard.com/india/news/sebi-mops-rs-73-cr-through-consent-orders-in-2010-11/447580/