INVESTIGATION DEPARTMENT – ID1

Sub: Order passed against Subhash Projects & Marketing Ltd (SPML) and its directors

"Whole Time Member, (WTM), SEBI Board has passed an Order on January 28, 2004, under Regulation 11 of SEBI (PFUTPRSM) Regulations, 2003 read with Section 11B of the SEBI Act, 1992, in the matter of rights issue of Subhash Projects & Marketing Ltd (SPML) and price manipulation in the scrip. According to order, SPML and its directors Mr Poonam Chand Sethi, Chairman Emertius; Mr Anil Kumar Sethi, Chairman; Mr Subhash Chand Sethi, Vice Chairman & Managing Director and Mr Sushil Kumar Sethi, Managing Director have been restrained from accessing the securities market and dealing in securities for a period of five years. The order has come into force with immediate effect".