Market regulator SEBI today restrained six Gujarat-based companies and one entity from Maharashtra from dealing in securities market after they failed to redress investors’ grievances. These companies are — Ishwar Medical Services, Neon Resins and Industries, Indo American Optics, Bhuvan Tripura Industries, Akar Laminators, Chicago Software Industries and Hindustan Industrial Chemicals, SEBI said in separate orders.
Besides, with the exception of Ishwar Medical Services, even few directors of these companies have been prohibited by the market regulator from dealing in markets.
There was 143 investor grievances pending unresolved by Ishwar Medical Services Limited as on September 24, 2008, the market regulator said.
Similarly, SEBI received many investors complaint against Neon Resins and Industries Limited