Mumbai: As per RTI SEBI has no record that who is authorised on behalf of BSE and NSE to issue in principle approval for IPO listing on behalf of exchange. The BSE and NSE officials are issuing in principle approval in DRHP without board of directors resolution. The officers have no authority from management to issue such observation. It is huge irregularities in SEBI CFD as regulator. The lead managers are also not asking authority letter from BSE - NSE officials. Without any authority how they can permit to list shares in NSE BSE exchange?
