December
07, 2009
PR No. 382/2009
SEBI passes Consent Order in the matter of IPO irregularities �
Masat Texturising & Twisting Pvt. Ltd.
A Panel consisting of Whole Time Members, SEBI, Shri M.S. Sahoo and Dr. K.M. Abraham has passed consent order on December 03, 2009 in the matter of �irregularities in the IPOs" on an application submitted by Masat Texturising & Twisting Pvt. Ltd.
Masat Texturising & Twisting Pvt. Ltd. cornered the shares meant for retail individual investors in the IPO of FCS Software. SEBI also initiated adjudication proceedings against the applicant and a show cause notice dated June 15, 2006 was issued by the Adjudicating Officer.
The applicant without admitting or denying the charges has remitted a total sum of Rs. 75,92,872/- (Rupees seventy five lakh ninety two thousand eight hundred and seventy two only) comprising Rs. 58,40,671/- (Rupees fifty eight lakh forty thousand six hundred and seventy one only) towards disgorgement and Rs.17,52,201/- (Rupees seventeen lakh fifty two thousand two hundred and one only) towards settlement charges.
Mumbai
December 07, 2009
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