SEBI issues order in IPO scam

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Tuesday, November 21, 2006 (New Delhi):In a latest development on IPO scams, the market regulator Securities and Exchange Board of India (SEBI) on Tuesday issues order in IPO scam.

The Board will be taking action against NSDL, CDSL and eight DPs in this concern. DPs includes Karvy, ING Vysya bank, HDFC Bank and IDBI Bank.

DPs also include Pratik Stock Vision, Jhaveri Securities and Khandwala Financial Services.

NSDL, CDSL and eight DPs would be paying a fine of Rs 115.8 crore. Besides, Rupalben Panchal would also be paying fine to SEBI.