July 19, 2004 PR No.
160/2004
Shri V.K. Jatia and his family members barred from securities market
Shri V.K. Jatia and his family members, Shri Shubhkaran Jatia, Smt. Shashi Jatia, Smt. Rampriya Devi Jatia, Smt. Smita Jatia, Smt. Archana Jatia and Smt. Nita Jatia are prohibited from buying, selling or dealing in securities for a period of eighteen months w.e.f. July 9, 2004. The order was passed by Shri A.K. Batra, Whole Time Member, on July 9, 2004 under Regulation 11 of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 and Section 11 and 11 B of SEBI Act 1992.
SEBI had conducted investigations into the alleged irregularities in the allotment of shares in the public issue of M/s.Infoquest Software Exports Ltd (ISEL) for 43,18,800 shares and manipulation in the price of the scrip of ISEL. Pursuant to investigations, SEBI after considering the facts found Shri V.K. Jatia and his family members, Shri Shubhkaran Jatia, Smt. Shashi Jatia, Smt. Rampriya Devi Jatia, Smt. Smita Jatia, Smt. Archana Jatia and Smt. Nita Jatia guilty of violating the provisions of Regulation 3 of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 1995.
Mumbai
July 19, 2004
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