Financial Daily from THE HINDU group of publications
Thursday, Mar 04, 2004
Financial Daily from THE HINDU group of publications Thursday, Mar 04, 2004 |
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Regulatory Bodies & Rulings Markets - Economic Offences SEBI bars Cyberspace promoters' associate Our Bureau
Mumbai , March 3 THE Securities and Exchange Board of India has asked Mr Shashikant G. Badani, associate of Cyberspace Ltd promoters, to restrain from buying and selling securities and associate with any corporate body to access capital market for a one-year period for violating regulations. Mr Badani had helped create false and misleading appearance of trading and artificial price rise in the share of Cyberspace Ltd from October 2000 to March 2001, SEBI said in a news release. "He aided and abetted the promoters of Cyberspace Ltd and its broking arm Century Consultants Ltd in the market manipulation of the scrip of Cyberspace Ltd during the aforesaid period. Therefore, he was found guilty of violating the provisions of SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 1995,'' SEBI said.
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