Sebi imposes market ban on entities, individuals for GDR manipulation ...Middle East

Sebi has barred two entities and five individuals for indulging in fraudulent trading activities with respect to GDR issuance by Soma Textiles & Industries Ltd. Soma Textiles & Industries Ltd "is hereby restrained from accessing the securities market...directly or indirectly...for a period of 3 years from the date of this order," Sebi said in an order passed on Monday. Others facing the prohibition are -- SK Somany, AK Somany, P Bandopadhyay, Prafull Anubhai, Sunil Patel and Whiteview Trading Corporation. The ban has been imposed for a period ranging from 1-3 year. An investigation was conducted by Sebi with respect to the GDR (Global Depository Receipt) issuance by the company during Octobe

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