SEBI passes order against security dealing with NASSB, UMNL

Mumbai, Sep 26 (UNI) Market regulatory Securities and Exchange Board of India (SEBI) has passed an order directing not to deal in securities against New Age Shares and Stock Brokers Private Limited (NASSB), Universal Media Network Limited (UMNL), Mr Sanjeev Bansal and Mr Pramod Jain, Directors of UMNL, and Mr Ashok Agarwal, Director of NASSB, in the matter of SRG Infotech Limited.

It was observed that NASSB, UMNL alongwith its directors Mr Bansal and Mr Jain, had indulged in acts intended to create false or misleading appearance of trading in the shares of SRG Infotech Limited. NASSB and UMNL have been directed not to access the capital market and deal in securities for a period of six months from the date of passing of the order, a release issued by SEBI said.

Mr Bansal and Mr Jain have been directed not to deal in securities for a period of one year and six months, respectively, from the date of passing of the order.

The order comes into force with immediate effect, the release added.

UNI AR SR NP2028