Indiabulls denies involvement in F

Mumbai, June 20: Brokerage firm, Indiabulls Financial Services, today denied media reports suggesting their involvement in the Futures and Options (F&O) scam.

Indiabulls, in a press release here, said, ''With respect to a Securities and Exchange Board of India (SEBI) order on dealing in futures and options contracts on the National Stock Exchange (NSE), some reports in the media suggest that Indiabulls Securities has been involved in fake trading and fixing of F&O prices. We wish to clarify that Indiabulls Securities or any of its group companies have not been involved in any fake trading or price fixing in F&O segment and have not traded directly or indirectly on its own account in the 23 trades on the F&O segment as mentioned in the SEBI order.'' The firm told the Bombay Stock Exchange (BSE) that out of the mentioned 23 trades, 17 trades were done by clients through internet trading and that the firm is in the process of issuing notices and taking further strict measures against clients who have executed these questionable 23 trades which have resulted into a close out difference of approximately Rs 35 lakh.

UNI