May
17, 2010
PR No. 121/2010
Order against M/s. Pravin Ratilal Share and Stock Brokers Ltd., a Depository Participant, in the matter of IPO irregularities
In the matter of Initial Public Offering (IPO) irregularities, Shri M. S. Sahoo, Whole Time Member, SEBI, has passed final order on May 14, 2010, against M/s. Pravin Ratilal Share and Stock Brokers Ltd., who as a Depository Participant (DP) failed to have effective systems, controls and procedures to identify irregular and abnormal transactions in the accounts of its clients.
Accordingly, M/s. Pravin Ratilal Share and Stock Brokers Ltd. is warned to be careful in conduct of its business as a DP by adhering to and complying with all relevant statutory provisions and exercising due diligence as expected of a registered market participant.
Mumbai
May 17, 2010
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