Sebi launches probe into Bajoria case

The Securities and Exchange Board of India (Sebi) has quietly launched an investigation into l’affaire Arun Bajoria and his holdings in Bombay Dyeing. The probe began a couple of days ago. Sebi senior executive director LK Singhvi said the investigation would focus on looking into all aspects of the Bajoria acquisition of shares in Bombay Dyeing. "At this stage I cannot say anything more than this. But we have started an investigation." For quite some time, Sebi was undecided about whether the case merited a full probe or not, and the regulator had written to the Calcutta-based jute baron seeking to know exactly how much he held in the Nusli Wadia-controlled company. Bajoria had later said that he had 13.5% in the company and would send the letter saying so to Sebi on Monday.