September
24, 2008
PR No. 190/2008
Order against Mrs. Ashadevi Beriwala in the matter of
Jagsonpal Pharmaceuticals Ltd.
Dr. T.C.Nair, Whole Time Member, SEBI, has passed an order dated September 23, 2008 restraining Mrs. Ashadevi Beriwala from buying, selling or dealing with securities for a period of one month.
It was observed that Mrs. Ashadevi Beriwala had artificially created a market in the shares of Jagsonpal. She had misused the stock exchange mechanism to tide over the financial commitments of the Tropical / CFL group by executing, financing transactions through the stock exchange making it to appear as genuine trade transactions and thus created artificial volume in the scrip, thereby violating SEBI Regulations.
The order comes into force with immediate effect.
Mumbai
September 24, 2008
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