September 24, 2004
PR No. 248/2004

Order against M/s. Indian Finance Guaranty Ltd., Member of NSE

The Securities and Exchange Board of India (SEBI) vide its order dated October 29, 2002 had restrained M/s. Indian Finance Guaranty Ltd. (IFGL) having SEBI Registration No. INB230880637 from accessing the securities market and prohibited him from buying, selling or dealing in securities, till further orders. Subsequently, enquiry proceedings were initiated to look into the allegations.
 
Pursuant to completion of the enquiry proceedings, SEBI has passed an order dated September 22, 2004 by which the proceedings against IFGL under the enquiry regulations stands terminated and that the prohibition imposed upon IFGL vide orders dated October 29, 2002 and January 16, 2004 have been vacated. IFGL has, however, been directed to be more careful and diligent in future.
 
 
Mumbai
 
September 24, 2004