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PRESS RELEASE - SEBI

April 27, 2006
PR No. 127/2006

Order in the matter of IPOs

Shri G.Anantharaman, Whole Time Member, SEBI vide order dated April 27, 2006 has issued ex-parte ad interim order in the matter of Initial Public Offerings.

In the recent past while examining off-market transactions in the IPOs of Yes Bank Ltd. (�YBL�) and Infrastructure Development Finance Company Limited (�IDFC�), it came to the notice of SEBI that certain entities had cornered IPO shares reserved for retail applicants by making applications in the retail category through the medium of thousands of beneficiary accounts in the name of fictitious/benami entities with each of the application being of small value so as to be eligible for allotment under retail category. After the allotment, these fictitious/ benami allottees transferred these shares to their principals who in turn transferred the shares to their financiers. Most of these shares were sold immediately on listing.

SEBI conducted investigations in respect of all the IPOs during the period from January 2003 to December 2005. The findings of investigations so far, prima facie, reveal violations of serious nature by the key operators, their financiers, concerned DPs and the depositories including violation of the provisions of SEBI Act, 1992 and Depositories Act, 1996 and the rules and regulations made thereunder. SEBI has issued directions against the concerned entities.

Mumbai

April 27, 2006

April 27, 2006
PR No. 128/2006

PRESS RELEASE

The following clarification is issued with respect to order No: WTM/GA/60/ISD/04/06 issued 27/4/2006:

�It is clarified that the directions 'not to buy, sell or deal in the securities market including in IPOs, directly or indirectly, till further directions' in the interim order WTM/GA/60/ISD/04/06 relating to IPOs issued on 27/4/2006, in so far as they relate to brokers who are SEBI registered intermediaries would apply only in respect of transactions in the proprietary account of brokers and the transactions on behalf of clients would remain unaffected .The same clarifications apply to DP operations wherever they are Depository Participants.

It is clarified that the DP transactions of clients would remain unaffected only for 15 days, by which time switchover to another DP should take place in respect of directions against Karvy DP and Pratik DP.�

Mumbai

April 28, 2006

For full copy of Interim Order in the matter of Initial Public Offerings , click here.

For full copy of order against ACTION FINANCIAL SERVICES (INDIA) LTD., click here.

For full copy of order against AJAY KUMAR GUPTA, click here.

For full copy of order against AMADHI INVESTMENTS LTD., click here.

For full copy of order against AMBUJA ESTATE & HOLDINGS PVT.LTD., click here.

For full copy of order against ANAGRAM SECURITIES LTD., click here.

For full copy of order against ANAND NETANAND CHOUDHARY (HUF), click here.

For full copy of order against ARJAV NARESHBHAI PANCHAL, click here.

For full copy of order against ARTH STOCK BROKING PVT.LTD., click here.

For full copy of order against ASHMI FINANCIAL CONSULTANCY PVT.LTD., click here.

For full copy of order against ASHOK K.BAGRECHA, click here.

For full copy of order against BAKUL DESAI, click here.

For full copy of order against BALWINDERKAUR PURSWANI, click here.

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For full copy of order against BIREN KANTILAL SHAH (AKA.SHAH BIREN KANTILAL), click here.

For full copy of order against BNP PARIBAS, click here.

For full copy of order against CENTRAL DEPOSITORY SERVICES (INDIA) LTD., click here.

For full copy of order against CENTURION BANK OF PUNJAB LTD., click here.

For full copy of order against CHANDRAKANT AMRATLAL PAREKH, click here.

For full copy of order against CHIMANLAL GIRDHARLAL SHAH, click here.

For full copy of order against CHIRAG DESAI, click here.

For full copy of order against CHIRAG JAYENDRAKUMAR SHAH, click here.

For full copy of order against CITIBANK N.A., click here.

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For full copy of order against DADIA FINVEST LTD., click here.

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For full copy of order against DUSHYANT NATWARLAL DALAL, click here.

For full copy of order against EXCELL MULTITECH LTD., click here.

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For full copy of order against HDFC BANK LTD., click here.

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For full copy of order against ICICI BANK LTD., click here.

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For full copy of order against INDUSIND BANK LTD., click here.

For full copy of order against INFINITE FINANCIAL SERVICES PVT.LTD., click here.

For full copy of order against INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD., click here.

For full copy of order against ING VYSYA BANK LTD., click here.

For full copy of order against INTEGRATED ENTERPRISES (INDIA) LTD., click here.

For full copy of order against JASMINA J.DADIA, click here.

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For full copy of order against JHAVERI SECURITIES LTD., click here.

For full copy of order against JITENDRA LALWANI, click here.

For full copy of order against KALUPUR COMMERCIAL CO-OPERATIVE BANK LTD.,THE, click here.

For full copy of order against KAMAL PRIYAKANT JHAVERI, click here.

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For full copy of order against KANTILAL JITMAL SHAH, click here.

For full copy of order against KARVY COMPUTERSHARE PVT.LTD., click here.

For full copy of order against KARVY STOCK BROKING LTD., click here.

For full copy of order against KASHMIRA NARENDRA DADIA, click here.

For full copy of order against KELAN ATULBHAI DOSHI, click here.

For full copy of order against KHANDWALA INTEGRATED FINANCIAL SERVICES PVT.LTD., click here.

For full copy of order against KIRAN D.DADIA, click here.

For full copy of order against KOTAK MAHINDRA BANK LTD., click here.

For full copy of order against KOTAK SECURITIES LTD., click here.

For full copy of order against L.L.PHULWANI (HUF), click here.

For full copy of order against LAXMINARAIN L.PHULWANI, click here.

For full copy of order against MAGNUM EQUITY SERVICES LTD., click here.

For full copy of order against MANOJDEV SEKSARIA, click here.

For full copy of order against MASAT TEXTURISING & TWISTING PVT.LTD., click here.

For full copy of order against MEENAKSHI L.PHULWANI, click here.

For full copy of order against MONAL Y.THAKKAR, click here.

For full copy of order against MOTILAL OSWAL SECURITIES LTD., click here.

For full copy of order against NARENDRA HARILAL DADIA, click here.

For full copy of order against NATIONAL SECURITIES DEPOSITORY LTD., click here.

For full copy of order against NATVARLAL N.DADIA, click here.

For full copy of order against NATWARLAL THAKORDAS, click here.

For full copy of order against NEHA NARENDRA DADIA, click here.

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For full copy of order against NIMISHA KADAKIA, click here.

For full copy of order against NIRANJAN GIRDHARILAL, click here.

For full copy of order against OPEE STOCK LINK LTD., click here.

For full copy of order against PARAG JHAVERI & CO., click here.

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For full copy of order against PRATIK MAFATLAL SHAH, click here.

For full copy of order against PRATIK PULP PVT.LTD., click here.

For full copy of order against PRATIK STOCK VISION PVT.LTD., click here.

For full copy of order against PRAVIN RATILAL SHARE & STOCK BROKERS LTD., click here.

For full copy of order against PULOMA DUSHYANT DALAL, click here.

For full copy of order against PURSHOTTAM GHANSHYAM BUDHWANI, click here.

For full copy of order against RAJAN VASUDEVBHAI DAPKI, click here.

For full copy of order against RAJESH JHAVERI STOCK BROKERS PVT.LTD., click here.

For full copy of order against RAJESH KUMAR PATEL, click here.

For full copy of order against RAJESH N.JHAVERI,M/S, click here.

For full copy of order against RAJKUMAR JAIN, click here.

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For full copy of order against RITABEN R.THAKKAR, click here.

For full copy of order against ROOPALBEN NARESHBHAI PANCHAL, click here.

For full copy of order against RUPESH VIPINCHANDRA SHAH, click here.

For full copy of order against SANJAY R.SHAH,M/S, click here.

For full copy of order against SANJAY RAMESHCHANDRA SHAH, click here.

For full copy of order against SANJAY RAMESHCHANDRA SHAH (HUF), click here.

For full copy of order against SARVANI CHOUDHARY, click here.

For full copy of order against SAUMIL A.BHAVNAGARI, click here.

For full copy of order against SEER FINLEASE PVT.LTD., click here.

For full copy of order against SHEELU LALWANI, click here.

For full copy of order against SHILPA RAJAN DAPKI, click here.

For full copy of order against SONAL N.DADIA, click here.

For full copy of order against SSKI INVESTOR SERVICES PVT.LTD., click here.

For full copy of order against STANDARD CHARTERED BANK, click here.

For full copy of order against STOCK HOLDING CORP.OF INDIA LTD., click here.

For full copy of order against SUGANDH ESTATES & INVESTMENTS PVT.LTD., click here.

For full copy of order against SUJAL LEASING & FINANCE PVT.LTD., click here.

For full copy of order against TAURAS INFOSYS LTD., click here.

For full copy of order against UCO BANK, click here.

For full copy of order against UMANG R.SHAH, click here.

For full copy of order against UTI BANK LTD., click here.

For full copy of order against VASUDEV GORDHANDAS DAPKI, click here.

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For full copy of order against VEENABEN Y.THAKKAR, click here.

For full copy of order against VINITA A.CHOUDHARY, click here.

For full copy of order against VINOD MODHA (HUF), click here.

For full copy of order against WELLWORTH SHARE & STOCK BROKING LTD., click here.

For full copy of order against WELVET FINANCIAL ADVISERS PVT.LTD., click here.

For full copy of order against ZEALOUS TRADING CO., click here.

For full copy of order against ZENET SOFTWARE LTD., click here.