SEBI bars 7 companies to issue any convertible instruments or fresh issue

by khalid on 22/09/2011 · 3 comments

The Securities Exchange board of India (SEBI) barred 7 companies from issuing any convertible instruments or issuing any fresh shares or altering their share capital structure. These companies had been barred on grounds of manipulation of GDR issues.SEBI had received alerts in 2009-10 regarding large scale of off market transaction.

In the past the Market regulator has found evidences of price manipulation by these companies. The seven stocks which are barred are Avon Corp, Asahi Infra, CAT Tech, Cals Refineries, IKF Technologies, Maars Software and K Sera Sera.

SEBI also barred 10 people and entities to deal in instruments or securities for their involvement in the issue. They are SV Enterprises, Alka India,,JMP Securities, India Focus Cardinal Fund, MAVI Investment, Sophia Growth, KII Ltd, European American Investment Bank Ag, Oudh Finance & Investment and Basmati Securities.It has also directed The NSDL and the CSDL (India) to freeze all accounts of the beneficial owner of the mentioned 10 person or entities. They should also ensure that in future these entities/persons should not hold or take any fresh positions.

The modus operandi used by these companies was that they issued shares in the form of GDRs (Global Depository Receipts). GDRs are those which are easily converted into domestic shares. The GDRs were cancelled and then sold in the Indian markets. There was no transparency in the system as the number of shares convertible from shares to GDRs or from GDRs to shares was not known. This process was used as a means to manipulate the share prices by the mentioned companies. The activity was noticed on these scripts and a detailed examination was carried out by SEBI

“Bell the bull says: The above case was a violation of FEMA regulation and SEBI has reported to Enforcement Directorate to take the matter further.”

Related Posts Plugin for WordPress, Blogger...

Leave a Comment

{ 2 comments… read them below or add one }

gourav jain September 29, 2011

can you plz tell me how much time they can not raise
1) fresh equity
2) conversion of instruments
3) change in capital sturcture

1, 2 or more years.


nikoncameravgi January 19, 2012

Taking care of that makes dslr dslr cameras better than the regular phase and also blast is certainly the opportunity to adjust camcorder accessories. Virtually no a couple of golf shots may truly be similarly. Each condition and additionally circumstances will be different, why am i will you would like to operate the equal lens repeatedly? It’s not going to present you with the good quality none the effects you like. Let’s check out basic principles associated with high-end camera contacts and when to utilize each one of these.

Most people presume that a wide-angle aperture is designed for surroundings golf shots. Eventhough this is really the case, typically the wide-angle zoom lens can be a tad bit more multipurpose when compared with it could seem. This contact can finally break the rules the setting at the same time pulling tight stuff perhaps even better. Which means that in simple terms, this glasses will be great for having close-up game compared to just simply wide scenery. This can be a handy the len’s that may deal with the foreground as well as the experience simultaneously.

If you suffer from a distinct, specialised content, you have to shy off typically the wide-angle not to mention preferably contemplate zoom capability and even telephoto contacts. Your contact lens permits your photography to be able to cut short the particular focal period to make sure you also grow or simply decline your magnification with the issue. Yet needn’t be robbed from electric zip. You want to take advantage of some sort of optical zoom lens designed to definitely enlarge the picture. Any telephoto glasses is pretty like some zip additionally, the difference is usually slight. Although the contact lens magnifies, some sort of telephoto can bring the topic deeper, lowering the distance involving the stuff in the photography and then the glasses. Meaning it will have higher outline.

Interested in focus on with teeny minor products? A macro contact lens is the platform for an individual. They also have a shorter focal length which usually allows you to require a visualize right up more and additionally personalized with no distortion. Virtually all cameras already include a macro putting which may accomplish the same target. Macro contact lenses are most effective when used on objects which were definitely minor such as a plants petal as well as a drop for mineral water.

Fisheye improved lenses became a favorite solution between professional photographers, constructing a helpful necessities to pix. The particular contact lens ended up being initially created regarding astronomy photography addicts this required to take many that stars. Nowadays these are well known with landscape designs wedding photographers since they could distort horizon figure. While shooting individuals, it will eventually necessary under some visual aspect in hunting from a door’s peephole.

Even if you can consentrate on you types of digital photography, having many different styles of camcorder listings provide you with an edge, helping you to grow to be extra useful in your photographs.

Sony Camera Reviews


{ 1 trackback }

Previous post:

Next post: