Sebi bars Shankar Sharma from market for one year

Market regulator SEBI on Friday debarred First Global Stock Broking director Shankar Sharma from participating in the securities market for one year for his alleged fictitious trading in 10 securities that led to a crash in 2001 on BSE. SEBI's decision will be effective four weeks after communication of this order to Sharma, as directed by the Bombay High Court. The charge against Sharma was that First Global, in which he was a director, and Vrudhi Confinvest India, which was 100- per cent owned by him and another accused Devina Mehra, indulged in creation of large artificial volumes in 10 securities.

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