Order against M/s. Pragya Enterprises in the scrip of
Bhoruka Financial Services Limited (BFSL)
Securities and Exchange Board of India (SEBI) has passed an order under Section 11B read with Section 11(4) of SEBI Act, 1992 against M/s. Pragya Enterprises and its partners directing them to deposit the proceeds of the transactions in the scrip of BFSL in an escrow account with a nationalized bank opened exclusively for this purpose and they are further directed to take prior approval of SEBI for dealing in this account.
The order dated August 24, 2005 was passed in the transactions in the scrip of BFSL on Magadh Stock Exchange Association.
The order was passed by SEBI’s Whole Time Member, Shri G. Anantharaman.
The directions in this order will come into force with immediate effect.
The full text of the order is available on the website: www.sebi.gov.in
August 26, 2005