No proposal by govt on clearing Sebi ordinance, says EC

Tags: News
The government has not approached the Election Commission for vetting of the Air Asia licence or issuing Ordinance for giving more powers to capital market regulator Sebi.

"Nothing has come, no reference," Election Commissioner H S Brahma said when asked if the government has approached them for clearance of Sebi Ordinance.

The Securities and Exchange Board of India (Sebi) was given powers last year through an ordinance, which was first promulgated in July and for second time in September, but it lapsed last month as a Bill in this regard could not be passed in Parliament.

On licence to Air Asia, he said, "no company has sought any approval ... Not heard (anything from the civil aviation ministry)."

"If the policy is already done by them, if they have all the due diligence, if they have already gone ahead with all the rules and regulations, then their board of directors should decide," he said.

Recently, the aviation regulator dismissed the demand by domestic private airlines not to grant a licence to AirAsia India, the joint venture between the low-cost airline AirAsia with Tatas.

Asked if oil marketing companies can increase petrol, diesel prices Brahma said "if they are going ahead with market driven force, they are welcome. I mean there are certain areas where market takes the precedence. If the oil companies operate under the market provisions of the country, they have the rules and regulations, they have the standards why should we interfere, that's all."

There is speculation that oil marketing companies are going to reduce petrol prices on coming Monday.

"Election Commission will do their job, RBI will do their job, Petroleum Ministry will do their job, oil companies will do their," he said.

On withholding gas price increase, "simply the matter was pending in the Supreme Court, let the Supreme Court decide the matter.

"I fully agree with you, the issue is pending from 2010. They could have decided, today we are in 2014. Why they have taken so much of time. Any way the matter is pending in the Supreme Court, let us see after 10 days," he said.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • If the first 17 editions of Saarc were tragedies, Kathmandu was a sham

    Rarely has a regional grouping such as the South Asian Association of Regional Cooperation (Saarc) promised so much and delivered so little.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

By the power of wind, let there be light

In India, the development of wind power began in the ...

Zehra Naqvi

Being unrealistic can be good for you

Depression is a term that most people use very casually ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture