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Sebi bars 3 mkt players from trading for three years

This article was posted on Jan 3, 2010 and is filed under Market News

The Securities and Exchange Board of India (Sebi) has debarred three market players from dealing in securities for three years for manipulating trading in shares of Nissan Copper.

“…Sebi has passed an order…Restraining Deven Patel, Tejas Patel and Smitaben N Shah from buying, selling or dealing in securities market in any manner whatsoever or accessing the securities market, directly or indirectly, for a period of three years,” the market regulator said.

Sebi also asked the Bombay Stock Exchange and the National Stock Exchange to remit the unlawful gains to the tune of Rs 2.36 crore made by these three players and withheld by the stock exchanges to it within 15 days.

Sebi will then transfer the amount to the Consolidated Fund of India.

source: Business-Standard

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