Over the period of the last three years, Sebi has been able to strengthen the surveillance system tremendously. We have invested heavily on technology and systems. We have now moved to a higher area called data warehousing and business intelligence.
So phase one of that has been implemented and next two phases are also in the process of being implemented in the given time frame. That gives Sebi a huge capability to have a look at any pattern about trading in any particular area. I would like to take this opportunity to tell people through you that we are watching very seriously.
Some of the good corporates, without realising that this is something that is not right or on the wrong side of law, have been indulging in this because somebody has advised them that this is alright to do. I would like to tell people that now our capability has enhanced. People should try and keep an eye on compliance and regulatory rules themselves.
All intermediaries and companies should look at their own systems. Once we find somebody on the wrong side, we will have no recourse but to take appropriate measures, a deterrent measure. Those who are not doing it deliberately, my message to them is that you should be ready to face the consequences of deliberate action. It is good for you to look at your compliance and legal systems. Spend some time and energy on that if you are the top management of the company.