M/s. Dhanlaxmi Lease Finance Ltd.
 
I.E.S.

M/s. Dhanlaxmi Lease Finance Ltd came out with its maiden public issue for 31,00,000 equity shares of Rs.10/- each during November 1995. Investigation was conducted by SEBI into the affairs of M/s. Dhanlaxmi Lease Finance Ltd as complaint was received regarding irregularities in the public issue. The price of the scrip varied between Rs.45/- to Rs.225/- on Ahmedabad Stock Exchange. Investigation prima facie revealed that certain entities were involved in price manipulation and unfair trade practice in the scrip of M/s. Dhanlaxmi Lease Finance Ltd. Pursuant to investigation a show cause notice was issued to Dr. Amit Shah, M/s. S. R. Investments, Shri Arvind K. Shah, Shri Kishore Barot and M/s. Akash Shelter & Finstock Ltd since the aforesaid entities have violated SEBI (Prohibition of Fraudulent & Unfair Trade Practices relating to Securities Markets) Regulations 1995. Based on oral submissions, documents and evidence on record, SEBI has issued directions against the aforesaid entities debarring them from dealing in securities in any manner for a period of three years.