December
31, 2007
PR No. 324/2007
Order against Mr. Murali Nair in the matter of Design Auto Systems Ltd.
Dr. T.C.Nair, Whole Time Member, SEBI has passed an order dated December 27, 2007 against Mr. Murali Nair in the matter of Design Auto Systems Ltd., directing him not to access the capital market, or buy sell or deal in securities in any manner directly or indirectly for a period of six years from the date of the order.
It was observed that he had played an important part in the allotment, dematerilization and subsequent off-loading of the unlisted shares of Design Auto Systems Ltd. Thus, he had violated provisions of regulations 3 & 4 of SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 1995.
Mumbai
December 31, 2007
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