Sebi revokes ban against entity in Alka Securities matter
Besides, the market regulator Sebi has disposed of the show cause notice issued to the company as well as revoked the ban imposed on from the securities market.
Sebi through an interim order in July 2009 had restrained the entity from accessing the securities market and prohibited it from trading in any manner whatsoever,until further orders.
These directions were confirmed by Sebi in October 2009.
The regulator, in the latest order dated January 22, "disposes off show cause notice... issued to Mayuresh Real Estate & Management in the matter of ASL without any further directions. Further,the restraint imposed on the noticee ...in the matter is vacated with immediate effect."
"...I am of the considered view that no further action is called for against the noticee (Mayuresh Real Estate & Management) in the matter and the direction issued against the noticee vide the interim and confirmatory orders needs be revoked," Sebi Whole Time Member Prashant Saran said.
"I also note that the instant proceeding against the noticee was prolonged on account of non-receipt of the show cause notice by the noticee...," he added.
In a probe conducted by Sebi into the shares trading of ASL during November 2008-March 2009, it was found that Mayuresh Real Estate & Management, one of promoter of ASL during relevant period, disclosed its shareholding to 40 lakh shares, whereas
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