Sebi bans nine entities from securities mkt for up to 5-yrs

Regulator Sebi today prohibited nine entities from the securities market for up to five years for allegedly indulging in manipulative trade in the shares of Asian Star Company Ltd (ASCL).
The Securities and Exchange Board of India (Sebi) have found that these entities have indulged in manipulative trading in the scrip of ASCL and various other scrips.
These entities have "repetitively indulged in manipulations in the scrip of ASCL and have also manipulated the volumes and prices of several other scrips."
The regulator has barred Sunil Kumar Mehta, Usha Mehta, Jitendra Mannalal Jain, Suresh Hanswal, Pradesh Bandhu Nimawat, Manish Mathur, Ajay Roongta and Arun Manohar Sakpal for five years from accessing as well as from trading in securities market, "directly or indirectly or being associated with the securities in any manner."

Also, Sebi has prohibited Sandeep Jain from securities market for three years for violating PFTUP (Prohibition of Fraudulent and Unfair Trade Practices) regulations.
"It has been further found that Mathur and Roongta, acting hand-in-glove with Sunil Mehta, had themselves directly traded and indulged in manipulative synchronised/structured trades in the scrip of ASCL and several other scrips," Sebi said.
The regulator, in September last year, had restrained these nine entities from accessing the capital market and prohibited from buying, selling or otherwise dealing in the securities market for varying periods.
"...Noticees (nine entities)who are undergoing debarment/ restraint/ /prohibition pursuant to the order dated September 6, 2013, the directions in the said order and the directions in the instant order shall run consecutively," Sebi said today.