India, Dec. 19 -- Finance Minister Nirmala Sitharaman on Thursday introduced the Securities Market Code Bill in the Lok Sabha and proposed referring it to the department-related standing committee for further discussion.
Arun Nehru (DMK) and Manish Tewari (Congress) opposed the Bill at the introduction stage, saying it gave excessive powers to a single body, which was against the principle of the separation of powers. They described the bill as a case of excessive delegation of power.
Responding to their claims, the finance minister said that since the government is referring it to the standing committee, such details can be discussed by the panel.
Krishna Prasad Tenneti, chairing the proceedings, said the Lok Sabha Speaker has the power...