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Sebi to probe Bhushan Group’s stake purchase

Sebi to probe Bhushan Group’s stake purchase
PTI
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First Published: Wed, Mar 25 2009. 10 42 PM IST
Updated: Wed, Mar 25 2009. 10 42 PM IST
Cuttak/New Delhi: The Orissa high court has directed the Securities and Exchange Board of India (Sebi) to investigate Neeraj Singhal-led Bhushan Group’s stake purchase in Orissa Sponge Iron and Steel Ltd (OSIL) and has suspended its voting right in the secondary steel producer.
“It is directed that the regional manager of the Sebi, Kolkata, shall investigate into the affairs of opposite parties No 7-24 (Bhushan Group) regarding acquisition of/ dealing in their shares in the OSIL,” the court said .
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First Published: Wed, Mar 25 2009. 10 42 PM IST