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June 12, 1997
PR No.
67/1997
SUSPENSION FROM UNDERWRITING BUSINESS
PRIMARY MARKET DEPARTMENT
The Securities and Exchange Board of India (SEBI) has suspended/disallowed 4 category 1 merchant bankers and 1 stock broker from doing any underwriting business for a period of 2 years for not meeting their underwriting commitments in the public issue of Ritesh Polyesters Ltd. in terms of sub-regulation (3) of Regulation 29 of SEBI (Underwriters) Regulations, 1993 for violation of Regulation 15(3) read with regulations 25(1)(b), 26(1)(iii)(a) and (ix) of SEBI (Underwriters) Regulations, 1993.
The details are given below:
|
|
Name |
Category |
Date of suspension |
|
| 1. |
First Financial Services Ltd. |
Cat 1 Merchant Banker |
29.05.97 |
| 2. |
Hindustan Stockland Ltd. |
Cat 1 Merchant Banker |
29.05.97 |
| 3. |
Marg Securities Ltd. |
Cat 1 Merchant Banker |
09.06.97 |
| 4. |
Bhagwandas Gordhandas Financial
Pvt.Ltd. |
Cat 1 Merchant Banker |
09.06.97 |
| 5. |
S.V. Vakharia Ltd. Member, |
The Stock Exchange, Mumbai |
09.06.97 |
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