Investors must be careful about risky market: Sebi chairman

Agartala, Jan 14 (PTI) Chairman of Securities andExchange Board of India ((SEBI) C B Bhave today alertedinvestors about the risky capital market.

Addressing a national seminar on �Investorsprotection� here Bhave said, "The investors must be carefulabout the risky market and should be familiar with theprocesses of getting away from fraudulence."

SEBI is getting stronger and intensifying surveillanceover the capital market, he said.

Bhave said SEBI has collected Rs 25 crore in the last14 years as penalty from the companies or financialinstitutions who had violated the capital market. People oftenget into the trap of illegal financial companies who assure toprovide them hefty returns within a shot span of time.

"SEBI is gradually changing its mechanism so that thefraudsters can not cheat the investors in the capital market�,he added.

He said ASBA (application supported by blockedamounts) is a system introduced by SEBI for protection of theinitial public offers by which applicant''s account can beprotected until shares are allotted to him.