SEBI prohibits nine entities from dealing in market

Mumbai, Aug 28 (UNI) Securities and Exchange Board of India (SEBI) has probited nine capital market entities from dealing in the market for a period of five years.

These entities have been found guilty of violating SEBI regulations 3 and 6 (c) (prohibuition of fradulent and unfair trade practices relating to Securities Makret Regulation,1995) in the matter of Gujarat Texpin Ltd.

The nine entities are: Gujarat Texspin and its directors Taufik Haji Gaffar, Tarik Haji Gaffar, Jivrajbhai M Patel and Mr Mukund Krishnaswami Rao, Ferrari Textiles and its director Tohid Hazi Gaffar, Atul Ratilal Shah and Neerav Bhagat, proprietor of D K Consultancy.

The SEBI, however, dropped proceedings against Krishnakant D Parekh, erstwhile director of Gujarat Texspin, in the matter, a SEBI release said here today.

UNI