I. E. S.

SEBI initiated investigations into the alleged manipulation in the public issue of V. R. Mathur Mass Communications Ltd., Hyderabad. Investigations revealed several irregularities were committed in the public issue of the said company. A notice was issued to the promoter and the company to show cause as to why appropriate directions should not be issued under Regulation 11 read with Regulation 12 (a) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 1995, read with Section 11 B of SEBI Act, 1992. They were also given opportunities to appear before the Chairman, SEBI for personal hearing, which was not availed by the promoter and the company. After carefully examining the records and other relevant material, SEBI passed an order prohibiting the promoter Shri Vimal Raj Mathur and the company from dealing in securities and also access capital market in any manner for a period of five years w.e.f. February 19, 2002.