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Our Bureau

Mumbai , Sept 26

The SEBI has imposed a penalty of Rs 20 lakh on Mr Mathew Easow, associated with Mathew Easow Research Securities Ltd (MER) and Mathew Easow Fiscal Services Ltd (MEF), for undertaking an opposite trading position to what he recommended to the investors on Moneycontrol.com in the stocks of Kalpana Industries, CESC, Ahlcon Parent and Albert David.

Mr Easow had made a recommendation to buy the stocks of the above companies, while he sold the stocks of those companies in September 2005.

The SEBI has imposed the penalty amounting to thrice the amount of profit earned by MER and MEF during the relevant period on the four scrips.

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