Mumbai, Aug 15: Securities and Exchange Board of India has barred Satyendra N Gandhi from dealing in securities for two years for his involvement in defrauding investors in the public issue of Incap Financial Services. Sebi chairman G N Bajpai in order dated August 12 said Gandhi was involved in defrauding investors by making it appear that the public issue of company was fully subscribed.
He was also involved in wrongfully cornering the company shares and subsequently offloading them in the market for personal benefit, Sebi said in a release on Thursday.

"Gandhi is directed not to buy, sell or deal in securities in any manner, directly or indirectly, for a period of two years with immediate effect", it added.
The market regulator has also suspended the certificate of registration of two members of Calcutta Stock Exchange Vijay Kumar Patni and Krishna Kumar Daga for a period of four and three months respectively with effect from September two, 2003 for dealing in off-market transactions. Bureau Report