Parsvnath Developers returns to the trading ring
DSIJ Intelligence / 11 Aug 2017
The Securities Appellate Tribunal (SAT) has stayed restrictions imposed by SEBI on Parsvnath Developers on Friday, reported a leading business daily. The stock may resume trading on Monday.
The Securities Appellate Tribunal (SAT) has stayed restrictions imposed by SEBI on Parsvnath Developers on Friday, reported a leading business daily. The stock may resume trading on Monday.
The SAT had stayed SEBI’s restrictions on J Kumar Infraprojects and Prakash Industries on Thursday, following which the companies’ stocks started trading on Friday and both the stocks breached the lower circuit. SAT had directed the stock exchanges to allow trading in shares of J Kumar Infraprojects and Prakash Industries in its ruling against SEBI’s directive.
Parsvnath Developers was among the 331 suspected shell companies that the Securities and Exchange Board of India (SEBI) had identified and place under surveillance, curtailing trading to just one day a month.