According to sources familiar with the development, Sebi has decided to make references to the Ministry of Corporate Affairs (MCA) and the Department of Revenue, citing violations of the Acts these bodies govern. The market regulator came across these violations while investigating the DLF case between December 2012 and May 2013.

Sebi is said to have told the others it had spent about Rs 40 crore on investor awareness programmes last year. And, that other regulatory bodies should begin spending more on this cause.

While no instance of any ISIS-linked activities in the Indian markets has come to the fore so far, the regulator has informed the stock exchanges about the updated Al-Qaida sanctions list of the United Nations Security Council, which has named various ISIS-linked entities in its new list. The stock exchanges have, in turn, informed their trading members about the updated sanctions list.

The changes could include further categorisation of equity schemes. Under current guidelines, all MF equity schemes are colour-coded as brown, denoting high riskiness.

According to the latest details available with regard to cases where Sebi orders have been challenged at SAT, the number of appeals dismissed by the Tribunal rose to 117 in the last financial year (2013-14) from 62 in previous year.

In a letter to the department of economic affairs (DEA), Sebi has said merger between the erstwhile BoR and ICICI Bank was approved by the banking regulator despite being "fully aware" of the "surrogate acquisitions" made by the former's promoter entities.

Heavy selling by foreign funds yesterday in local stocks and better dollar overseas also kept the rupee under pressure.

"Work is going on to make lives easier for private equity players that invest in listed companies. The discussion paper will address issues the industry is facing, and after public consultation, formal guidelines would be issued," said a source.