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Article: SEBI frees India Infoline in share manipulation case.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- June 15, 2009
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SEBI frees India Infoline in share manipulation case
Mumbai, June 15 (PTI) -- Market regulator SEBI today freed brokerage firm India Infoline from charges of facilitating fictitious trading in the shares of GHCL Ltd, but reprimanded it for "lack of promptness" in cooperating in the probe.
In connection with a probe into a sharp rise in price and trading volume of GHCL shares between November 6, 2006 and March 31, 2007, SEBI conducted a probe in the role of brokers and their clients who traded in the stock.
"It was observed during the investigation that certain entities had indulged in synchronisation of deals/reveral trading/fictitious trading ...