October 12, 2004
PR No. 274/2004

Direction under section 11 & 11 B of SEBI Act issued in the matter of DSQ Software Ltd.

SEBI’s investigation in the matter of DSQ Software Ltd revealed that New Vision Ltd., Dinesh Dalmia Technology Trust, Softec Corporation Trust, New Vision Investment Private Ltd, DSQ Holdings Ltd, Hulda Properties & Trades Ltd., Powerflow Holdings Pvt. Ltd, DSQ Industries Ltd and Mrs. Radha Dalmia had facilitated Dinesh Dalmia and DSQ Software Ltd to defraud the investors and shareholders of the DSQ Software Ltd., and these entities were also not co-operated for SEBI’s investigations in the matter of DSQ Software Ltd. 
 
It was also found that DSQ Holdings Ltd, Hulda Properties & Trades Ltd., Powerflow Holdings Pvt. Ltd and DSQ Industries Ltd have indulged in synchronized transactions and violated Regulation 4 of the FUTP Regulations, 1995.
 
In view of above, in the interest of investors and the securities market SEBI has prohibited the following entities/persons from accessing the securities market and dealing in securities for a period of 10 years with immediate effect:

        1. New Vision Investment, UK,
        2. Dinesh Dalmia Technology Trust,
        3. Softec Corporation Trust,
        4. New Vision Investment Private Ltd,
        5. DSQ Holdings Ltd,
        6. Hulda Properties & Trades Ltd.,
        7. Powerflow Holdings Pvt. Ltd,
        8. DSQ Industries Ltd and
        9. Mrs. Radha Dalmia, 
 
Mumbai

12 October 2004