Sebi Warns 14 Firms Indifferent To Investor Complaints

Mumbai, October 22: | Updated: Oct 23 2002, 05:30am hrs
Sebi has issued an order against 14 companies which have failed to respond to the showcause notice issued by it.

The regulator directed the companies, including Enkay Texofood and Good Value Marketing to redress investors grievances pending with them within November 13, failing which it will begin prosecution action against them.

The proposed action also includes debarring the directors of these companies from dealing in and accessing capital market for a period of five years for failure to comply with order dated October 14, 2002, Sebi said in a release on Tuesday.

Other entities including Alpine Industries (Pithampur), Aryan Finefab (Mehsana, Gujarat), Dharendra Industries, Dhrendra Overseas (both from Ahmedabad), Earnest Healthcare (Indore), Gujarat Suspension (Panchamahal, Gujarat) and Indo American Optics (Ahmedabad) had failed to reply to the show cause notices issued to them earlier, it added.

Indo Bio-Tech Foods, Indo Bio-Tech Herbal (both from Mumbai), Kanel Oil (Ahmedabad), Lesha Steels (Ahmedabad) and Pan Asia Industries (Mumbai) had also failed to repsond to Sebis show cause notices, it added.