Market regulator Sebi today barred merchant bank Almondz Global Securities and two of its officials from taking up new assignments related to public offers, after finding them guilty of irregularities related to PG Electroplast's IPO in 2011.
Sebi also asked the concerned investigation officers to expeditiously complete the probes in the case where a number of other entities have also faced penal actions.
The regulator upheld its interim orders passed on December 28, 2011 against these entities after giving an opportunity to them to present their case.
Sebi prohibited the merchant bank of PG Electroplast's IPO, Almondz Global Securities, its MD and CEO Vinay Mehta and Sanjay Dewan authorised signatory of the investment bank for the due diligence certificate from "taking up any new assignments or involvement in any new issue of capital including IPO, follow-on public offer from the security market in any manner."
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