PRESS RELEASE
Prohibition on opening of fresh demat accounts by
M/s. Motilal Oswal Securities Ltd., lifted
Dr. T.C.Nair, Whole Time Member, SEBI has vide his post hearing order on August 31, 2006 in the matter of Initial Public Offering (IPO) Investigations directed that, pending enquiry, the prohibition on opening fresh demat accounts by the Depository Participant (DP), M/s. Motilal Oswal Securities Ltd. be lifted. The order further states that all issues and contentions are left open to be considered by the Enquiry Officer appointed by SEBI and to be decided in subsequent proceedings pursuant to his report.
SEBI vide ex-parte ad interim order dated April 27, 2006 had, inter alia, directed the above DP not to open fresh demat accounts till further orders. Thereafter, an opportunity of hearing was granted to the DP.
The full text of the order is available on the website: www.sebi.gov.in
Mumbai
September 01, 2006
