Sebi bars Prashant Kamble from markets for one year

MUMBAI: Capital markets regulator Sebi today barred one Prashant Kamble from the securities market for one year for allegedly indulging in fraudulent trading in the shares of more than three dozen companies.

The Securities and Exchange board of India (Sebi), in its order, prohibited "Prashant Kamble from buying, selling or otherwise dealing in securities, directly or indirectly, in any manner whatsoever, for a period of one year from the date of this order."

According to the regulator, Kamble indulged in self-trades in 21 scrips on 189 occasions in respect of 75,725 shares "without the intention of change of ownership of such shares and thus indulged in an act which creates false or misleading appearance of trading in the securities market."

By indulging in these trades, Kamble has violated the provisions of the PFUTP (Prohibition of Fraudulent and Unfair Trade Practice) Regulations.

Among the 21 scrips included SKS Logistics Ltd, SKS Logistics Ltd, Crystal Software Solutions Ltd, Gandhinagar Hotels Ltd and G S Auto International Ltd.