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.�


March 14, 2007


For full copy of order against SHRI SAUMIL A. BHAVANAGARI click here.