(T.E.T)
The Securities and Exchange Board of India (Sebi) will now send show cause notices, summons and orders to securities law offenders via instant messaging platforms such as WhatsApp, Telegram and Signal, a move that will make the processes speedier and efficient.
This will be in addition to the normal mode of communication including electronic mail, registered post, courier and fax.
“The law and regulation concerning the securities market and the regulatory framework continues to see dynamic changes from time to time,” said Zerick Dastur, founder of Zerick Dastur, advocates and solicitors. “In an effort to smoothen the system of adjudication and issuance of timely processes, the manner of service of notices and orders has also undergone changes to meet with the needs of time.”
It said that this innovation was needed as physical delivery of notices during lockdown periods has been difficult.
