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Some companies trying to manipulate market by avoiding payment of long-term capital gain tax: Sebi Chairman

Jul 23, 2015 02:01 PM IST Business Business

In a clampdown on organised syndicates, SEBI has busted billion dollar tax evasion shops in stock market. "So far as safety is concerned we discovered that there are some companies who are trying to manipulate the market by avoiding paying long term capital gain tax, the whole intention was to avoid tax but they were trying to manipulate the market would you believe that we are able to pass orders against more than 900 companies," SEBI Chairman UK Sinha.