September 10, 2004
PR No. 219/2004

M/s. Viram Investment Private Limited, Shri Amal Parikh and Shri Uday Shah directed not to deal in securities for a period of six months

Shri A.K.Batra, Whole Time Member, SEBI, has passed an order on September 8, 2004 directing M/s. Viram Investment Private Limited, Shri Amal Parikh and Shri Uday Shah to disassociate themselves from the securities market and, not to deal in securities for a period of six months. This order has been passed by exercising powers of Section 11 (4) and 11 B read with Section 19 of the SEBI Act, and Regulation 11 of the SEBI (FUTP) Regulations, 2003. This order has come into effect immediately.
 
M/s.Viram Investment Private Limited, Shri Amal Parikh and Shri Uday Shah acted in a concerted manner in the scrip of M/s.Intellvision Software Limited. They indulged into non genuine trades among themselves and decreased the price of the scrip by 88.51% from Rs. 104.00 on February 15, 2002 to Rs. 11.95 on April 10, 2002.
 
 
Mumbai
 
September 10, 2004