For full copy of order against ALFAVISION OVERSEAS (INDIA) LTD., click here.

PRESS RELEASE - SEBI
October 24, 2003
PR No. 257/2003

SUBJECT: ORDER PASSED BY SEBI AGAINST ALFAVISION OVERSEAS (INDIA) LIMITED 

ISSUED BY: INTEGRATED SURVEILLANCE DEPARTMENT ID2

SEBI had conducted investigations into the alleged irregularities in the buying, selling and dealing in the scrip of M/s Alfavision Overseas (India) Ltd. Pursuant to investigations, SEBI after considering the facts found the company Alfavision Overseas (India) Ltd guilty of violating the provisions of Regulations 4(a), (b) and (c) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 1995 and regulation 26 of SEBI (Depositories and Participants) Regulations, 1996. 


In view of this, vide Order dated October 21, 2003 SEBI prohibited the company Alfavision Overseas (India) Ltd from accessing the capital market and buying, selling or dealing in securities for a period of two years and further directed the company, under section 11D of the SEBI Act, 1992 to cease and desist from violating regulation 26 of SEBI (Depositories and Participants) Regulations, 1996, regarding processing of dematerialization requests within the stipulated period. This order shall come into force with immediate effect.