January 11, 2010
PR No. 006/2010

SEBI passes Consent Order in the matter of IPO Irregularities � 

Dharmesh K. Katakia and Dhaval K. Katakia

A Panel consisting of Whole Time Members, SEBI, Shri M.S. Sahoo and Dr. K.M. Abraham has passed consent order on January 08, 2010 in the matter of �irregularities in the IPOs" on application submitted by Dharmesh K. Katakia and Dhaval K. Katakia. 
By Dharmesh K. Katakia and Dhaval K. Katakia a key operator cornered the shares meant for retail investors in the IPO of Yes Bank and IDFC. Therefore, SEBI initiated roceedings under section 11B of SEBI Act, 1992, and also initiated adjudication proceedings against the applicant. 
The applicant without admitting or denying the charges has remitted a sum of Rs. 1,53,67,986.40/- (Rupees One core fifty three lakh sixty seven thousand nine hundred eighty six and paise forty only) comprising Rs. 1,18,21,528/- (Rupees one crore eighteen lakh twenty one thousand five hundred twenty eighty only) towards disgorgement and Rs. 35,46,458/- (Rupees thirty five lakh forty sixty thousand four hundred fifty eight only) towards settlement charges.


January 11, 2010


For full copy of order against DHARMESH K.KATAKIA AND DHAVAL K.KATAKIA click here.