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SEBI puts pressure on Goldman Sachs to disclose Zee deal details

15-January-2002
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SEBI puts pressure on Goldman Sachs to disclose Zee deal details

The Securities and Exchange Board of India (Sebi) is exerting pressure on Goldman Sachs to reveal the name of the entity which had acquired Zee Telefilms shares through a private placement.

Zee had allotted 80 lakh equity shares of Re 1 each at a premium of Rs 999 to Goldman Sachs Investment Mauritius on a preferential basis in 2000. Sebi had asked Goldman Sachs for information regarding the client on whose behalf the transaction was done.

According to Sebi, it is trying various methods to get the information on the deal from Goldman Sachs.

Inability of Indian regulators to extract information from Mauritius-based entities is posing a major block to the investigation process in tying up some major links in the March 2001 market crisis.

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