Suspension of Merchant Banker

The Securities and Exchange Board of India (SEBI) has suspended the certificate of registration of M/s Imperial Corporate Finance & Services Pvt. Ltd., SEBI registered Merchant Banker for a period of fifteen days with effect from 23rd April 2003 vide order dated 10th April 2003 passed in terms of Regulation 13(4) of SEBI (Procedure for holding enquiry by the Enquiry officer and imposing penalty) Regulations, 2002. The penalty has been imposed on M/s Imperial Corporate & Finance Services Pvt. Ltd. for violating the criteria of proper care and due diligence as prescribed under the SEBI (Merchant Bankers) Rules & Regulations, 1992 in the rights issue of Gammon India Ltd. The details of the order are available in SEBI’s website www.sebi.gov.in 

M/s Imperial Corporate Finance & Services Pvt. Ltd., SEBI registered Merchant Banker will not be able to carry on business as a Merchant Banker for a period of fifteen days from 8th May 2003 till 22nd May 2003.