Regulations
SEBI restrains D&A Financial from taking up new public offers

In the final order, SEBI upheld its interim order passed against book running lead manager -D&A Financial Services to the public issue of Brooks Laboratories and Dinesh R Kaushik, director of the company

 
Mumbai: Market regulator Securities and Exchange Board of India (SEBI) has restrained merchant banker D&A Financial Services and its director Dinesh Kaushik from taking up new assignments or be involved in new public offers till further orders due to non-compliance with the disclosure norms in Brooks Laboratories' initial public offering (IPO) prospectus, reports PTI.
 
The final order follows an interim order passed on 28 December 2011 after giving an opportunity to these entities to present their case. In the final order, SEBI upheld its interim order passed against book running lead manager -D&A Financial Services Ltd to the public issue of Brooks Laboratories and director of D&A, Dinesh R Kaushik.
 
SEBI through its exparte ad-interim order dated 28 December 2011, restrained the D&A Financial Services and its director from taking up any new assignment or involvement in any new public offer from the securities market till further orders.
 
The regulator said it "confirms the directions issued against D&A Financial Services Ltd and its director Dinesh R Kaushik vide ex-parte ad interim Order dated 28 December 2011 in the matter of Brooks Laboratories." 
 
In its order the regulator, "prohibited D&A Financial Services Ltd and Dinesh R Kaushik, Director of D&A from taking up any new assignment or involvement in any new issue of capital including IPO, follow-on issue, etc from the ecurities market in any manner whatsoever, till further directions." 
 
It further said, D&A was prima facie found to have not made proper disclosure in a timely manner and thereby failed in its responsibility to conduct proper due diligence into the affairs of Brooks.
 

User

Insurance Trends

 New products, regulations, features and options, interpreted from your perspective

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
Dispensing costly medicines

I fully agree with the conclusions of Raj Pradhan on abuse by pharmaceutical companies and...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)