The total amount to be distributed is Rs 18.06 crore, which includes Rs 7.35 crore recovered by Sebi through exercise of its newly-conferred recovery powers. Wherever the bank details of the eligible investors are available, the amount would be credited in the said account with an intimation to the investors.
     
In the cases where bank details are not available, the cheques would be sent to the last known address of the investors, Sebi said in a statement. A list of eligible investors along with amount credited/sent by Sebi would be also put up on its website for the benefit of investors.
     
Sebi had investigated into certain irregularities in the shares issued through 21 Initial Public Offers (IPOs) during the period of 2003-2005 before their listing on the stock exchanges.
     
Upon completion of the investigations, Sebi had directed certain persons to disgorge the illegal gains. A committee was set up under the Chairmanship of Justice D P Wadhwa, a former Supreme Court Judge, which recommended the procedure of identification of persons who have been
deprived in the said IPOs and the manner in which reallocation of shares to such persons should take place.
    
As per the recommendations of Wadhwa Committee, 12.75 lakh persons were identified as eligible investors for distribution. Sebi has already distributed Rs 23.28 crore to 12.75 lakh investors in April 2010, out of which 7.99 lakh investors were paid the full eligible amounts.
     
In the second tranche, Sebi is now distributing funds to those investors to whom partial amount was paid earlier and are entitled to receive additional amounts.

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