Sebi Show Cause To PSE

Pune, Aug 30: | Updated: Aug 31 2002, 05:30am hrs
Capital markets regulator Securities and Exchange Board of India (Sebi) has issued a show cause notice to the Pune Stock Exchange (PSE) board as to why its board should not be dismissed on the Home Trade issue. Sebi has sought explanation on the listing of Home Trade on the Pune Exchange.

Sebi has asked the exchange to reply to the notice by September 6, 2002. The board will be given a chance to have its say on September 14, 2002.

It may be recalled that Home Trade was denied membership on The Stock Exchange, Mumbai (BSE). Subsequently, Home Trade managed to get listed on the Pune Exchange. It was on the basis on this listing that the main promoter, Sanjay Agarwal, went on to build his company.