Prime accused in the multi crore fixed deposit scam of Citibank, Shivraj Puri is to appear for questioning session from Securities and Exchange Board of India. A two member SEBI team has arrived in Gurgaon for the process.
The role of SEBI in the case comes into priority as the funds collected by the culprits from high net worth individuals (HNIs) were invested in the stock market, informed Gurgaon Police Commissioner S S Deswal.
The number of investors could be 18 to 20 including corporates and HNIs with non of them being foreign.
Through its investigation, SEBI may also try to figure out the motive behind the stock market investment as to whether the idea was to rig share prices or manipulate them, informed sources.
Religare Securities said that Puri has been a client since December 2009.