January 29, 1998
PR No. 18/1998

Direction to Hoffland Finance Ltd.
Primary Market Department

SEBI vide order dated July 31, 1997 had directed Hoffland Finance Ltd., not to take up any fresh assignment as Merchant Banker and Portfolio Manager. These orders were to be in effective till the inquiry proceedings pending against them are completed and further directions are issued to them. SEBI has also directed Hoffland Finance Ltd., not to launch any scheme including their recently announced "Invest Card" Scheme.