Hi to all

The following news has just arrived in late night in India. This is another biggest IPO SCAM that has been taken place after 'Harshad Mehata' Scam.

the following are the just breaking news. You can read more in tomorrows
(28th April) Indian news papers.

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Mumbai, April 27. (PTI): In a major action against those involved in the multi-crore IPO scam, market regulator SEBI today asked Reserve Bank of India, CBI and Income Tax Department to start prosecution against 24 operators and 12 depository participants.

SEBI said the major stock exchanges BSE and NSE and depositories NSDL and CDSL are directed to ensure that all the directions in its 256-page order are strictly enforced.

With regard to findings of SEBI investigations on IPO finance to fictitious benami applications, it said RBI had been asked to look into the involvement of certain banks.

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http://in.rediff.com/money/2006/apr/27sebi.htm

http://www.hindu.com/thehindu/holnus/000200604272301.htm

See the complete SEBI(Securities and Exchange Board of India) Order at the following Link:

http://www.sebi.gov.in/cmorder/ipoorder.pdf

Note:-

Stock Markets may see a lot of down ward trends tomorrow.

Friends, any one having shares in Indian market WAKE UP in the NIGHT of 27th April(Canadian time) and ready to sell your shares if it is really a big SCAM.

More NEWS are awaited on this BIG SCAM.

PMA.

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Knowledge is Power

Mad cow already taking the beating.

It was the long known thing that solid operators handling market aur that something tutne wallah tha!

Chal seeing till where market going to bottom.

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hinglish zindabad

mad cow holding yaar. The opening with solid of downward gap lakin recovering and ulta upar bund hua!

Strange the thing ke one of companies mentioned in article is one of our contacts in India. Apun showing to apla CEO> Jesus! Uska moon itna chhota ho gayaa and he tolding me to call man up at home India time like early morning and he talking to him expresing solid concern. Woh to saalaa Gujju ne usku bola nothing to worry and market will hold. Aur such much aaj hold hua!

kYA BOSS NE BOLA ke he not sleeping all night and watching BSE, and when opening with solid gap, his heart the sinking, then like solid recovery immediately- matlab- koi operate karela market ko- so apla US counterparts tolding.

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hinglish zindabad

Relax...this is nothing like the Harshad Mehta scam. The stock market is quite well regulated nowadays by the SEBI. As you can see it not dropping hugely....IMO the basics of the Indian market are quite intact.

Actually, it is heartening to see that such operators are caught before much damage is done.

Note - please don't sue me if you lose money in this market.

Maybe probably like the Ketan Parikh scam.

Yaan , like apla US counterparts joking ke bhai some 18-19 year old Indian(yaani apla India ka- 'namaste' wallah- 'how' wallah nahin) numbers wizard of student is operating the market.

Beating woh the 29 year old Leeson of the Nikkei fame operating from the S'pore.

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hinglish zindabad