Bajoria Dodges Sebi Call Again

Calcutta-based jute businessman Arun Bajoria failed to keep his date with Securities and Exchange Board of India (Sebi) as he once again failed to turn up for his scheduled hearing with the chairman, D R Mehta. In lieu, he sent a "bulky" letter expressing his inability to attend the hearing.

Officials said that the communication contained a jumble of information regarding various cases and there was nothing very specific. "It is a ploy not to attend the hearing," sources said.

This is for the third time that Bajoria has given Sebi a miss - the first time last year in December he demanded time to verify and inspect documents on the basis of which Sebi had called him for a hearing. The second time, he pleaded illness and also that his lawyer was out of town.

Bajoria, who demanded a board berth in Bombay Dyeing last year claiming that he had more than 14 per cent holding in the company, has been charged with having failed to inform the target company when he crossed the threshold level of five per cent equity holding in the company.

While Bajoria asserted that he had informed the Calcutta Stock Exchange about it, Sebi is sticking to its stand that the information was never sent.