Sebi whole time member M S Sahoo passed an order restraining PSTL for a period of seven years from dealing in securities in any manner whatsoever or accessing the securities market, directly or indirectly. PSTL has also been directed to include the order in the agenda of their next annual general body meeting.
Sebi on its website pointed out that the firm had allotted 98.5 per cent of shares under the employee category to seven persons who were not employees.
Published 10 November 2009, 16:10 IST