Dresdner Kleinwort banned from Indian markets
Apr 27, 2007
Stock Market
SEBI has banned German brokerage house Dresdner Kleinwort Wassertein Securities (India) from the Indian securities market for price manipulation in the DSQ Software scrip in October 1999.
A Sebi probe into the unusual rise in DSQ Software scrip from Rs 255 to Rs 2,631 in the six months from October 1, 1999 to March 31, 2000, found that Dresdner Kleinwort was involved in “synchronised trading” of shares in the company. SEBI has cancelled the certificate of registration of the brokerage firm.
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