The Hindu Business Line : SEBI bars DSQ Biotech from markets till April 2008

THE Securities and Exchange Board of India (SEBI) has barred DSQ Biotech Ltd from accessing the capital market or dealing in securities till April 9, 2008, after the Securities Appellate Tribunal (SAT) rejected an appeal from the company against a five-year ban imposed on the DSQ promoters from April, 2003.

Market regulator SEBI had imposed the ban after finding the promoter Mr Dinesh Dalmiya guilty of insider trading and manipulation of the stock prices of DSQ Biotech during September 1994, when the stock prices moved up from Rs 20 in June 1994 to Rs 112 by end November 1995.

SEBI, in its order dated December 15, 2005, directed DSQ Biotech Ltd "not to access the capital markets or deal in securities till April 9, 2008, considering the fact that the company had already underwent debarment from the date of passing of the SEBI order dated 10-4-2003 till date." The order has come into force with immediate effect, the order said.

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