September 25, 2008
PR No. 193/2008

Order against New Age Shares and Stock Brokers Pvt. Ltd., Universal Media Network Ltd., Shri Sanjeev Bansal, Shri Ashok Agarwal and Shri Pramod Jain in the matter of SRG Infotech Ltd.

Dr. T.C.Nair, Whole Time Member, SEBI, has passed an order dated September 23, 2008 against New Age Shares and Stock Brokers Pvt. Ltd. [NASSB]; Universal Media Network Ltd. [UMNL]; Shri Sanjeev Bansal & Shri Pramod Jain, Directors of UMNL; and Shri Ashok Agarwal, Director of NASSB, in the matter of SRG Infotech Ltd.
 
It was observed that NASSB, UMNL alongwith its directors Shri Sanjeev Bansal and Shri Pramod Jain had indulged in acts intended to create false or misleading appearance of trading in the shares of SRG Infotech Ltd. 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. Shri Sanjeev Bansal and Shri Pramod 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. Shri Ashok Agarwal was not a director of NASSB during the relevant period of occurrence of price manipulation in the scrip, hence no direction has been issued against him.
 
The order comes into force with immediate effect. 
 

Mumbai

September 25, 2008

For full copy of order against NEWAGE SHARES & STOCK BROKERS PVT.LTD., click here.

For full copy of order against PRAMOD JAIN, click here.

For full copy of order against SANJEEV BANSAL, click here.

For full copy of order against UNIVERSAL MEDIA NETWORK LTD., click here.