Weeding out illicit money pooling schemes, Securities and Exchange Board of India,SEBI, has within a month clamped down on over two-dozen companies. The firms had raised close to one thousand crore rupees from over four lakh investors. According to an analysis of orders passed by SEBI, action was taken against a total of 26 companies since November. The market regulator has barred all these firms from mobilising further funds from investors. The companies and their directors have also been restrained from accessing the securities market. Some of them have also been asked to wind up their existing illegal money pooling schemes and repay investors their money with interest. Further proceedings are underway in many other cases. The firms have violated provisions of the Companies Act, besides applicable SEBI regulations.Through a new Securities Laws Amendment Act, the government has enhanced powers of SEBI to take action against illegal money-pooling activities involving one hundred crore rupees or more.