SEBI disposes adjudication proceeding against Indiabulls
SEBI has disposed adjudication proceeding against Indiabulls Securities in the IPO-Demat case. However, CNBC-TV18’s analyst Payal Bhattar hasn’t been able to get any word from Indiabulls on the matter as yet as the order has just about come in.
It must be recalled that Indiabulls was implicated earlier in the first order that Sebi had passed in the IPO-Demat scam. That was when a host of other market participants like Karvy and a few banks were also named as the main contributors to the IPO-Demat scam.
According to Bhattar, this is good news for Indiabulls which has now been exonerated and the adjudication proceeding against it been disposed. So it is obviously good news for Indiabulls Securities.
Source: Moneycontrol.com
Wednesday, December 5, 2007
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