PUNJAB NATIONAL BANK-( ASHRAM ROAD BRANCH ) AHMEDABAD SUSPENDED FROM CARRYING OUT BTI ACTIVITIES
  
Primary market intermediaries division

Pursuant to the powers vested under sub section (3) of Section 4 of the SEBI Act, 1992 read with sub regulations (3) of Regulation 28 of SEBI ( Bankers to the Issue ) Rules and Regulations, 1994, Chairman SEBI has passed an order suspending the Ashram Road Branch, Ahmedabad of Punjab National bank from carrying out Banker to Issue activities for a period of 3 months w.e.f. 19.4.2000 as the said branch had released the funds received for the public issue of M/s Renco Gears Ltd. to the company before the listing approval was granted by the stock exchanges.