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MUMBAI: Sawaca Business Machines Ltd has been prohibited from accessing the capital market and also from buying, selling or dealing in securities for a period of five years by the Securities and Exchange Board of India.

Mr Mahendra Shah, Managing Director of the company, has also been prohibited from associating with any corporate body in accessing the capital market for the same period, says the SEBI order.

SEBI concluded its investigations into Sawaca Business Machines and has found it guilty of breaching the prohibition of fraudulent and unfair trade practices regulation.

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