Why are SME, LTCG orders being revoked?

Regulator could throw more light on the reasons behind these recent U-turns

N Sundaresha Subramanian 

In late 2014, the buzz about certain SME (small and medium enterprises) stocks without any fundamentals skyrocketing began to do the rounds in the media.   Unknown names, which had listed their companies to raise a few lakhs on the SME platform, had suddenly become billionaires as the stock prices shot up in a short span.   The matter, which came to be referred to as the SME scam, soon caught the attention of the Securities and Exchange Board of India (Sebi), the regulator, and by June 2015, an order restraining some 239 entities was passed. Subsequently, a further ...

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First Published: Mon, September 25 2017. 23:53 IST