SEBI to ban short sales? Yes/No

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Will SEBI ban Short sales?

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Short sales ban likely: SEBI
VRvisionaries Bureau
Mumbai: The Securities and Exchange Board of India (Sebi) is likely to lift the ban on short sales. This move has become inevitable with the global crisis and the sudden plunge of the sensex below 10K first time since July 2006.
“All the options are open now. The regulator is studying the date before taking a final decision,” the SEBI official told our correspondent.
Short selling or "shorting" refers to the practice of selling shares that the seller does not own at the time of the sale with the intent of buying it later at a lower price. Short-sellers attempt to profit from expected decline in share prices.
The market regulator has so far maintained that there is no need to ban short selling, ignoring growing pressure from a section of brokers to do so. These brokers believe that a cartel is "shorting" to pull the market down at a time when Foreign Institutional Investors (FIIs), under pressure in their home countries, have been selling consistently since September 15, when Lehman Brothers, one of the largest investment banks in the US, filed for bankruptcy.