OCH/CD/NH/2006/ December 27, 2006
The Resident Editor
The Economic Times
Times of India Building,
Dr. D.N.Road, Fort
Mumbai – 400 001
Please refer to the news items headlined “FII registrations take a year-end break” published in your newspaper on December 27, 2006, wherein it has been indicated that “..December 2006 could be the only month in a span of seven years to not have a single foreign institutional investor registering with the regulator”.
We wish to inform you that the above statement is factually incorrect and written without seeking comments or confirmation from SEBI. In fact, the number of FIIs registered during the period from 20th November till the date of your news item is 31 and the total number of FIIs registered with SEBI as on date is 1024. The web-page containing the details of the registered FIIs which captures name, address and contact details etc. reflects this up-to-date information.
It appears to us that the figure quoted by you seems to have taken from the page pertaining to ‘FII trends’ which is meant essentially for capturing the FII investment data. It is for information that SEBI is in the process of changing the software platform that maintains the FII investment database, on account of which the figure for FIIs registered with SEBI was seen as constant at 993 since November 20, 2006, on this page.
We would have expected that an esteemed newspaper like yours would not rush to publish news items of this nature, without at least checking and verifying the facts with SEBI and build a story around it by seeking comments from market players who too do not know the full facts.
In future, you are advised to verify facts before carrying such news items.
Securities and Exchange Board of India