February 05, 2010
PR No. 027/2010

SEBI passes Consent Order in the matter of IPO irregularities � 

Dharmesh Bhupendra M. (Alias D. B. Mehta)

A Panel consisting of Whole Time Members, Dr. K.M. Abraham and Shri Prashant Saran has passed consent order on February 1, 2010 in the matter of �irregularities in the IPOs" on application submitted by Dharmesh Bhupendra M. (alias D. B. Mehta).
Dharmesh Bhupendra M. (alias D. B. Mehta) was identified as key operator to corner the shares in the IPOs of IDFC Ltd., Nectar Lifesciences Ltd., Shoppers Stop Ltd., SPL Industries Ltd. and Yes Bank Ltd. and based on the findings SEBI had passed ad interim ex parte order dated April 27, 2006 directing applicant not to buy, sell or deal in securities market, including IPO�s, directly or indirectly till further directions.
The applicant without admitting or denying the charges has remitted a sum of Rs.33,72,056/- (Rupees thirty three lakh seventy two thousand and fifty six only) towards settlement charges along with Rs.84,30,140/- (Rupees eighty four lakh thirty thousand one hundred and forty only) towards disgorgement money.

February 05, 2010


For full copy of order against DHARMESH BHUPENDRA M. (ALIAS D. B. MEHTA) click here.