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September 21, 2006
PR No.
213/2006
Order in the matter of Global Trust Bank Securities and Exchange Board of India (SEBI) has passed an order on September 14, 2006 disposing off the show cause notice issued to M/s. Phulchand Sons Investments Pvt. Ltd., in the matter of Global Trust Bank.
The Show Cause Notice is disposed off on the grounds that there is no corroborative evidence against M/s. Phulchand Sons Investments Pvt. Ltd. to establish that they had created artificial volume and indulged in circular trades while dealing in the scrip of Global Trust Bank.
Mumbai
September 21, 2006
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