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Sebi inaugurates first office in Guwahti

Guwahati, Oct. 10: The Securities and Exchange Board of India (Sebi) has expressed concern over unregistered financial bodies raising funds from the state.

“We have information that there are unregistered financial bodies raising money in an unauthorised manner. This is a matter of concern,” Sebi chairman U.K. Sinha said during the inauguration of the board’s first officein Assam and in the Northeast.

Sebi was established on April 12, 1992, in accordance with the provisions of the Securities and Exchange Board of India Act, 1992.

The regulator board was set up to protect the interests of investors in securities and promote the development of and regulate the securities market.

Sinha said it had taken 24 years for Sebi to start its office in Assam but there would be more in the coming years.

The market regulator will operate from the office of NEDFi House here.

“From now on investors who have complaints against any company can contact the local office of Sebi instead of sending mails to Mumbai. We will also provide some financial education and if companies from here want to raise money the local office will help,” Sinha said.

There is a Sebi helpline (1800227575) through which people can redress their queries and grievances, he added.

He said there were only two companies from Assam listed on the National Stock Exchange (NSE) and there were only two broker offices.

“We have lots do and we will work in tandem with the state government,” he said, adding that it would help the SME sector to enter the big league.

The joint managing director of National Stock Exchange of India Ltd, Chitra Ramkrishna, said there were only one lakh people in the region who dealt in capital markets and the endeavour would be to reach out to as many people.

Assam chief minister Tarun Gogoi said he had already ordered an inquiry against companies who are cheating people of their money.