19 Entities Restrained From Securities Market Trading.

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....9 Entities Restrained From Securities Market Trading. <br>News and Press Release<br>Dated:- 5-9-2012<br><BR>Press Information Bureau Government of India Ministry of Finance 05-September-2012 18:17 IST 19 Entities Restrained From Securities Market Trading The securities market regulator - Securities and Exchange Board of India (SEBI) - vide its order dated August 3, 2012 passed an ad interim e....

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....x-parte order restraining 19 entities from accessing the securities market and further prohibiting them from buying, selling or dealing in securities in any manner whatsoever, till further directions. SEBI observed abnormality in price movement of certain mid-cap stocks viz, Pipavav Defence and Offshore Engineering Company Limited, Parsvnath Developers Limited, Tulip Telecom Limited and Glodyne T....

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....echnoserve Limited on July 26, 2012. In the preliminary analysis it was found, inter alia, that: &bull; Groups of related entities were found to be trading substantially in these mid-cap stocks and their income details captured in Know Your Client (KYC) records were not found to be commensurate with their trading pattern. &bull; These groups of related entities had placed sale orders of substant....

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....ial quantities, as fully disclosed orders, at prices significantly below the Last Traded Price (LTP), thereby contributing to the fall in prices of these stocks. In the light of the preliminary findings in this matter, pending detailed investigation, SEBI issued the aforementioned order. This was to prevent any further harm to investors and securities market and in order to protect the interest o....

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....f investors and the integrity of the securities market. This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in Lok Sabha today. * * * DSM/RS/Hb<BR> News - Press release - PIB....