Mumbai, Sep 24 (UNI) The Securities and Exchange Board of India (SEBI) has passed a consent order in the case related to IPO manipulations by promoters of Atlanta Ltd.
SEBI has agreed to settle the case on payment of Rs 14.02 lakh.
The promoters had 'cornered' the shares reserved in the employees' category in the IPO. The promoters of the Mumbai-based company had financed the employees to purchase the shares and the same had been later transferred to promoters in off-market deals, a release issued by SEBI said.
Market regulator SEBI has also passed a consent order against more than two dozen entities in the matter for irregularities in the alleged manipulation of share prices of several companies.
On Monday, 29 applicants remitted a sum of Rs 1 crore towards settlement charges without admission or denial of guilt.
SEBI had conducted investigations against 29 entities into the alleged manipulations in the prices of shares of ETP Corporation, E Star Infotech, SMR Universal, Ransi Software, Accurate Exports, Blue Coast among others.
These 29 entities, during the period of investigation, submitted applications under the terms of the consent order.
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