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Sebi bars two from securities market
Mumbai, July 03: Securities and Exchange Board of India has barred Harinarayan G Bajaj and his son Rahul H Bajaj from dealing in securities for 10 years for irregular transactions in Amara Raja Batteries` scrip.
Mumbai, July 03: Securities and Exchange Board of India has barred Harinarayan G Bajaj and his son Rahul H Bajaj from dealing in securities for 10 years for irregular transactions in Amara Raja Batteries’ scrip.
The regulator has directed the two to dissociate from capital markets for a five year period from June 25, a Sebi release said on Wednesday.
In order to maintain the integrity of the securities market, it was necessary to restrain them, who had indulged in price rigging, from accessing the capital market, Sebi chairman said in order dated June 25, 2003.
Sebi had conducted investigations into the alleged irregularities in the buying, selling and dealing in the scrip of Amara Raja scrip and found that H Bajaj and Rahul H Bajaj were guilty of violating the provisions of Sebi regulations.
Bureau Report