India
Pyramid Saimira calls for SEBI probe on share price hammering
Chennai | Tuesday, Dec 23 2008 IST
Claiming the letter purportedly written by Securities and Exchange Board of India (SEBI) was forged, Pyramid Saimira Theatre Ltd, an entertainment conglomerate, today called for a detailed probe by the market regulator into the constant hammering of its share prices by 'competitors and big business interests.' Talking to the media at a hurriedly convened press conference, Company Chairman and Managing Director P S Saminathan said the SEBI's letter asking the company to file a prospectus for open offer to acquire 20 per cent shareholding was forged. "SEBI told the company it had neither written such a letter nor issued any directive to have it delivered late," Mr Saminathan said adding the letter head of a government agency like SEBI has been forged. "We have also checked the SEBI website and found no such order or letter in it. "It is a very serious issue as the company's share price has been hammered twice in the past.It might affect the entire stock market as it can happen to any other corporate. We want SEBI, NSE and BSE to order a detailed probe to go into the matter and find out the culprits. -- (UNI) -- 23MC5.xml
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