Sunday, November 16, 2008

SEBI serves notices for IPO Allotment manipulation

SEBI’s order on Monday directed Mr Dhaval Mehta described as a key operator who engineered multiple IPO applications and retail category shares in the IPO of Suzlon Energy Ltd and IDFC Ltd has been asked to disgorge Rs 72 lakh; he has also been barred from transacting in the securities market for another five years.

Ms Himani Patel a key operator and financier in the IPO of Suzlon Energy, has been asked to disgorge Rs 33.5 lakh and barred from accessing the securities market for an additional period of four years.

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