SEBI to file rejoinder in Opee Stock-Jet scam

New Delhi: The Supreme Court today directed market regulator SEBI to file a rejoinder in the IPO scam involving Ahmedabad-based firm Opee Stock Link, Jet Airways and IDFC.
A bench headed by Chief Justice S H Kapadia directed the Securities Exchange Board of India (SEBI) to file its rejoinder over the reply filed by Opee Stock Link.
The apex court's direction came during the hearing of a petition filed by SEBI, challenging the orders of the Securities Appellate Tribunal (SAT), which had let off Ahmedabad-based Opee Stock Link from charges of manipulating IPO of Jet Airways.
Earlier, SEBI had found that Opee Stock Link had cornered the retail category shares of Jet Airways and IDFC by using several fictitious demat accounts and thus deprived genuine retail investors from investing in the IPOs.
06/09/10 PTI/Economic Times

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Categories: Jet Airways Sep 2010