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Our Bureau

Mumbai , May 7

THE Securities and Exchange Board of India (SEBI) has warned Prabhudas Lilladher Private Ltd to be careful in carrying out its dealings as a stockbroker in the scrip of Sawaca Business Machines Ltd.

The regulatory board has found the broker guilty of violating the provisions of the SEBI Act, 1992 and the brokers and sub-brokers regulations. Prabhudas Lilladher Private Ltd was also accused of price manipulation in the scrip of Sawaca Business Machines Ltd. The price of the share moved from Rs 8 to Rs 39 between October and December 1999.

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