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Our Bureau

Mumbai, Nov. 12 The Securities and Exchange Board of India on Monday passed an order restraining Mr Ketan Parekh and 10 associates from accessing the securities market, and from buying selling or dealing in the market for another 10 years.

The order restrains the entities for a period of 14 years starting December 12, 2003, but will run concurrently with SEBI’s earlier order of December 12, 2003.

The order follows SEBI’s investigations into these entities’ market manipulation in several stocks during October 1999 to March 2001, according to a statement by SEBI.

The associates include Mr Ketan Parekh’s family members and companies such as Classic Credit, Panther Fincap and Management Services, Luminant Investment, Chitrakut Computers, Saimangal Investrade, Classic Infin, Panther Investrade, Goldfish Computers, and Nakashtra Software.

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