May 04, 2000
PR No. 94/2000
Direction under Section 11 B of SEBI Act, 1992 against Shri Rajan Garg, Managing Director, Navmee Capital management Ltd.
Primary Market department
Chairman SEBI has issued a direction on 20.4.2000 under Section 11 B of the SEBI Act, 1992 debarring Shri Rajan Garg, Managing Director, Navmee Capital Management Ltd. from associating with capital market related activities for a period of 5 years. The penalty has been imposed as Navmee Capital Management Ltd. continued to carry on activities as Share Transfer Agent after expiry of certificate of registration granted to them and thus violated the provisions of Section 12 of the SEBI Act, 1992. The order comes into force with immediate effect.