The government on Friday said that the Securities and Exchange Board of India has issued showcause notice to four entities for their alleged involvement in the Sensex crash on May 17, 2004.
"Action has been initiated against these four entities whose name would be disclosed by the market regulator," Finance Minister P Chidambaram told reporters in Mumbai.
He said the investigation into the 'Black Monday' crash was in progress and government is taking strict action against those responsible.
"The government is also initiating action against the vanishing companies," he said on the sidelines of a function to launch BSE IndoNext platform at the stock exchange.