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Our Bureau

Mumbai , Jan. 17

SEBI has lifted the prohibition on opening of fresh demat accounts by Pravin Ratilal Share and Stock Brokers Ltd, Wellworth Share and Stock Broking Ltd and Dindayal Biyani Stock Brokers Ltd. The capital markets regulator via its post hearing order in the matter of initial public offering investigations directed that, pending enquiry, the prohibition on opening fresh demat accounts by depository participants, and these brokerages need not continue.

SEBI has, however, said enquiry proceedings should be concluded before further action with regard to the penalty and disgorgement is taken. The order further states that all issues and contentions are left open to be considered by the enquiry officer and to be decided in subsequent proceedings pursuant to his report.

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