SEBI bars SonySec for rigging

Securities and Exchange Board of India (SEBI) has ordered suspension of the registration of Sony Securities Limited member of NSE for his involvement in price rigging in BPL, Videocon and Sterlite scrips in June last year. Over dozen stock brokers were found involved in price rigging in these scrips by the regulatory body during the period May-June 1998 and the investigation proceedings against the Sony Securities Limited has so far completed by it, shows violations of various SEBI Acts by doing illegal trading activities.