|
Mumbai:
The Securities and Exchange Commission of India (SEBI)
yesterday banned DSQ Software and its promoter Dinesh
Dalmia from accessing the capital market for 10 years.
Dalmia was asked to deposit Rs630 crore, which is the
value of 13 million fraudulently allotted shares, in an
escrow account.
Four
company directors were also prohibited from buying,
selling or dealing in securities in any manner for five
years and holding office in any company, SEBI chairman
GN Bajpai said in his order signed which comes into
force with immediate effect.
In
a release, SEBI said that during investigations it was
revealed that there were irregularities in the allotment
of 17 million shares of DSQ Software in 2000-01 and
out of these, 13 million shares were released into the
market without listing.
The
company and Dalmia, who is also one of the prime accused
in the Calcutta Stock Exchange scam of March 2001, had
filed wrong information with the stock exchanges and
SEBI.
|
