SEBI prevents ISE member and their directors from dealing

Mumbai, Sep 3 (UNI) Securities and Exchange Board of India (SEBI) has prohibited Mega Millennium Investment Pvt. Ltd, a member of Interconnected Stock Exchange of India, and their directors for buying, selling or dealing in securities in any manner either for themselves or for their clients till further orders by SEBI.

The SEBI has barred these entities from operating in the market for their alleged involvement in borrowing of securities from gullible investors by misrepresentation and fictitious means. They also failed to redress investor grievances, the SEBI has noted in the order.

The SEBI, in its order issued here today, said that it has also prohibited M/S Mega Millennium's director Mr Swaminathan Mahalingam and Mr Pradipta Chatterjee and prohibited them from buying, selling and dealing in securities in the market until further orders.

UNI