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India’s Market Regulator Bars Seven Firms for Price Manipulation

Sept. 21 (Bloomberg) -- India’s capital markets regulator barred seven companies from issuing shares or other convertible instruments after its initial investigation showed the firms manipulated prices through sale of global depository receipts.

Asahi Infrastructure & Projects Ltd., IKF Technologies Ltd., Avon Corp., K Sera Sera Ltd., CAT Technologies Ltd., Maars Software International Ltd. and Cals Refineries Ltd. were the companies named by the Securities and Exchange Board of India in an order posted on its website today.

Link to Company News:{CALS IN <Equity> CN <GO>} Link to Company News:{MRSSI IN <Equity> CN <GO>} Link to Company News:{CCRC IN <Equity> CN <GO>} Link to Company News:{KSERA IN <Equity> CN <GO>} Link to Company News:{AVOC IN <Equity> CN <GO>} Link to Company News:{IKF IN <Equity> CN <GO>} Link to Company News:{ACHF IN <Equity> CN <GO>} Link to Company News:{SEBI IN <Equity> CN <GO>}

To contact the reporter on this story: Shikhar Balwani in Mumbai at sbalwani@bloomberg.net

To contact the editor responsible for this story: Hari Govind at hgovind@bloomberg.net

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