Sebi’s options on SME IPOs: Curfew or catch the guilty?

How does a city police commissioner handle major law and order problems? He can either declare a curfew locking up people inside their homes, or catch hold of the troublemakers and prosecute them. The Securities and Exchange Board of India (Sebi) appears to be caught in a similar dilemma. A raging bull market brought with it a lot of unscrupulous elements to the market, much like a flooding river that leaves filth and garbage behind. In this