The Securities and Exchange Board of India today barred 85 financiers, 14 depository participants and 24 big operators, from operating in the stock market because of their ‘abusive practices’ in relation to initial public offerings (IPOs) of several companies.



This scam basically came into lime light last October.





The market watchdog SEBI has also directed 85 financiers, including Karvy Stockbroking and Anagram Securities, ‘not to buy, sell or deal in securities market, including in IPOs, directly or indirectly, till further directions’



We all know that India’s stock market has been booming in the past four years. I am quite that this report will definitely fling shivers through the market and resulting in to an expected crash.



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