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Mumbai, Sept. 14

The Securities and Exchange Board of India (SEBI) on Thursday imposed a penalty of Rs 10 lakh on Mr Sunil Biyani, stockbroker, MPSE, and Sunil Shares and Stock Brokers Ltd, broker MPSE, each for fraudulent and unfair trade practises in the scrip of Kwality Dairy (India) Ltd. The penalty is to be paid within 45 days of the order issued.

(This article was published in the Business Line print edition dated September 15, 2006)
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