The Securities and Exchange Board of India has not found any evidence to prove the nexus among the Stock Holding Corporation of India officials, DSQ Industries promoter Dinesh Dalmia and Biyani Group in its investigations into CSE payment crisis which led to the stock scam in 2001.

"Investigation (by Sebi) has been completed and the same has not found any evidence to prove the nexus among the SHCIL officials, Dinesh Dalmia and Biyani group," the government said in its action taken report on the recommendations of joint parliamentary committee that probed the stock scam of 2001.

The report, however, said SHCIL board had been advised to take actions against former MD and CEO of SHCIL, the four committee members who approved the transactions with Biyani Group and the branch head of Kolkata office of SHCIL.

The ATR said departmental enquiry proceedings had been initiated against the six persons and chargesheets were issued to them who then submitted the reply.

"The board of directors of SHCIL has approved appointment of an enquiry officer to conduct the enquiry in these cases," the report said.

It said prosecution had been filed at chief metropolitan magistrate's court in Kolkata against Dinesh Dalmia, Harish Biyani and Ravindra Biyani.

Sebi had ordered probe to ascertain whether there was any nexus among SHCIL officials, Dinesh Dalmia and Biyani Group in the transactions done by Biyani Group through SHCIL and more particularly to ascertain whether SEBI Act had been violated.