Friday, January 15, 2010

SEBI SETTLED SEKSARIA ISSUE

SEBI has settled proceedings against Mr Manoj Dev Seksaria in the IPO scam of 2003-05 through consent settlement. Mr Seksaria has agreed to disgorge Rs 2.05 crore of unjust profits made in the IPOs of Sasken Communications, IDFC and Suzlon Energy and also Rs 20.5 lakh towards settlement charges. The consent amount was worked out on the basis of the unjust profit made in the said matter.

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