October 18, 2004
PR No. 280/2004

Order issued in the matter of application submitted by Creditcapital Asset Management Company Ltd., Mumbai for registration as a portfolio manager

The application submitted by Creditcapital Asset Management Company Ltd., Mumbai for registration as a portfolio manager has been rejected by SEBI vide order dated October 8, 2004.
 
In view of the multiple legal proceedings pending against the company, SEBI is of the view that granting a fresh registration to the applicant company, to act in a new capacity in the securities market, is not desirable, at this point of time. In addition, the applicant has also not fulfilled the networth criteria as laid down under regulation 6(2) (g) of the SEBI (Portfolio Managers) Regulations, 1993. Therefore, SEBI passed the order rejecting the said application. 
 
 
Mumbai
 
October 18, 2004