March 13, 2007
PR No. 94/2007
Order against Shri Saumil A.Bhavnagari
in the matter of IPO investigations
Dr. T.C.Nair, Whole Time Member, SEBI, has passed an order dated March 12, 2007 against Shri Saumil A.Bhavnagari confirming the ad interim ex-parte order dated April 27, 2006 in the matter of IPO investigations.
According to the order dated March 12, 2007, �Shri Saumil has aided and abetted the financiers and key operators in cornering the shares meant for retail investors and thereby is jointly and severally responsible for legal consequences.�
Mumbai
March 14, 2007
|