October 23, 2012 8:22 AM

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SEBI seeks special courts for speedy trials in market frauds<br/>

Worried over delays in prosecution of those found to be involved in frauds and other offences, Securities and Exchange Board of India SEBI has asked the government to set up special courts to fast-track the process of bringing the guilty to book.SEBI Chairman U K Sinha told this to reporters in Mumbai yesterday.Asked about the cases like the one against Rajat Gupta in the US where the Indian-origin banker is facing a possible jail term for many years, Sinha said,legal provisions in India and the US are entirely different.Sinha said that there is a provision for prosecution as well in India, in addition to penalties.Asked whether he would ask the government to make provisions for special courts to handle market-related cases, Sinha said, it has already been done.

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