The Securities and Exchange Board of India (Sebi) demanded details of short-sales via P-notes by foreign institutional investors and their sub-accounts. 

It would examine the position of securities twice a week from now onward. The move is aimed to bring transparency in the financial market. It is recalled that the regulatory body had banned the use of P-notes last year. 

The FIIs and their sub accounts have thus started trade between other FIIs causing decline in the share market of India over the past few months.

The brokers are getting high profit by lending these shares against commission. 

Some brokers confirmed that FIIs send a daily list of shares available for lending to their clients. The original holder of these shares does not know that his shares are being used for making money. 

The move of the Securities and Exchange Board of India (Sebi) would curb short selling through P-notes. SEBI would post the fresh information on its website explaining the details of short term sell out.