July 23, 2004
PR No. 168/2004

Orders against M/s.Sawaca Business Machines Ltd (SBML), its Directors & associated entities in the matter of buying, selling and dealing in the securities of SBML

M/s.Sawaca Business Machines Ltd. (SBML) have been prohibited from accessing the capital market and also from buying, selling or dealing in securities for a period of five years.
 
Shri Mahendra A.Shah, Managing Director, SBML has been prohibited from associating with any corporate body in accessing the capital market and also from buying, selling or dealing in securities for a period of five years.
 
Shri Satish R.Shah, Shri Hitesh J.Sanghvi and Shri Shetal S.Shah, Directors, SBML, have been prohibited from associating with any corporate body in accessing the capital market and also from buying, selling or dealing in securities for a period of two years.
 
Proceedings against Smt. Jyotsna S. Shah, Shri Vishal S. Shah and Shri Jalas Batra have been dropped.
 
The Orders have been passed by Shri A K Batra, Whole Time Member, on July 13, 2004 under Section 11(4)(B) read with Section 11 and 11B of Securities and Exchange Board Of India Act, 1992, read with Regulation 11 and 13 of SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to securities market) Regulations, 2003. The Orders shall come into force with immediate effect.
 
 
Mumbai
 
July 23, 2004