ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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New Plant in Operation

the rapidly expanding business. SEBI is endeavouring hard to enforce requisite discipline on merchant banks and lead managers to the issues so that they can serve as a useful bridge linking corporate managements with investors. Investors' complaints have assumed menacing proportions. According to a recent SEBI study, about 90 per cent of oversubscribed issues made during January-June 1991 raised nearly Rs 822.46 crore as application money from investors out of which Rs 664 crore is refundable money. Refund complaints accounted for 50 per cent of the complaints received by SEBI during the five months ended May. SEBI needs to be adequately equipped with regulatory powers if it is to play the role expected of it.

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