A watch is being kept on listed companies to see if they are complying with capital market regulator Securities and Exchange Board of India (SEBI) rules or trying to manipulate the market to serve vested interests, its chief said on Friday.

“Some companies are trying to manipulate the market by avoiding paying long-term taxes,” SEBI chairman Upendra Kumar Sinha told a news channel on Friday, adding the watchdog did not hesitate to act against some of the largest corporates found violating rules.

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