The board meeting of the Securities and Exchange Board of India (Sebi) on Tuesday

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is going to be closely watched as the market regulator will discuss the issue related to National Securities Depository (NSDL) role in the IPO scam of 2003-05.

The Sebi board is discussing the issue afresh following stricture by Supreme Court on the matter. It is not known if the discussion will be conclusive and a final order be passed on the matter.

PTI adds from New Delhi: Sebi on Monday sought more time from the Supreme Court to give its views on the report of a high-powered committee that probed the IPO scam of 2003-2005 and NSDL’s role in it. Sebi’s counsel informed the apex court that Sebi board is meeting tomorrow and sought more time to present its view on the report. C Achuthan Committee’s recommendations on Sebi Takeover Code, which is pending since last July, is also likely to figure in the board meeting. The corporate India is not happy with some of the recommendations including 100 per cent open offer and no non-compete fee during acquisitions.

To sort out differences, Chief Economic Advisor Kaushik Basu met industry representatives along with Sebi officials and officials from the ministry of corporate affairs last week in Delhi. But it is the NSDL matter that Sebi has been preoccupied with.