New Delhi: The Enforcement Directorate (ED) has initiated investigations into eight companies — Maars Technologies, Mascon Global, Mukta Arts, Tips Industries, Balaji Telefilms, Kopran group, Nirma group and Cadilla group — for their involvement in market manipulation and their proximity to stock scamster Ketan Parekh.

The action taken report (ATR) on the recommendations of the Joint Parliamentary Committee (JPC) on the stock market scam stated that these companies have been added to the list of 15 companies mentioned earlier on the recommendations made by the market regulator, the Securities and Exchanges Board of India (Sebi).

The JPC had commented on the suspect role of 15 promoters and corporate entities. "Files in respect of 15 promoters / companies stated to be close to Parekh were opened by them to determine the nexus with brokers through OCBs [overseas corporate bodies] and FIIs [foreign institutional investors] and to trace violation of RBI [Reserve Bank of India] norms while transferring equity to OCBs and FIIs," said the ATR.