September 17, 2004
PR No. 234/2004

Order against Shri D.K. Shah in the matter of M/s. Infoquest Software Exports Ltd. (ISEL)

The Securities and Exchange Board of India (SEBI) has prohibited Shri D.K. Shah from buying, selling or dealing in securities for a period of two years effective from September 15, 2004. The order was passed byShri A.K.Batra, Whole Time Member, on September 15, 2004under Regulation 11 of SEBI (Prohibition Of Fraudulent And Unfair Trade Practices Relating To Securities Markets) Regulations, 2003 and Section 11 and 11B of the SEBI Act, 1992.


SEBI had conducted investigations into the alleged irregularities in the public issue of M/s. Infoquest Software Exports Ltd. (ISEL) and manipulation of the market. Pursuant to investigations, SEBI after considering the facts, found that Shri D.K. Shah has violated Regulations 3 and 2(c) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to securities market) Regulations, 1995. 
 
 
Mumbai
 
September 17, 2004