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SEBI has confirmed its order restraining Reena Bansal (wife of Rajeev Bansal, a sub-broker affiliated to ICICI Securities) from transacting in the securities market until further directions.
The order also confirmed SEBI’s directions to the depositories, NSDL and CDSL, not to give effect to any debit instruction in the demat accounts of Reena Bansal or of any beneficial owner on the authority of power of attorney obtained by her or by Rajeev Bansal.
SEBI said it had given multiple chances to Reena Bansal to reply to the show cause notice or appear in person to defend herself, during the last three years. The interim order sent was returned undelivered. Following this, SEBI asked ICICI Securities to serve the interim order. Though the order was received by a person named “Reena”, she neither replied nor appeared in person, the regulator’s order said. SEBI said it was necessary to issue appropriate preventive ex-parte directions immediately against Bansal who acted as an unregistered sub-broker in the interest of investors, pending detailed investigation.
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