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On Friday, the Securities Appellate Tribunal (SAT) has lifted Sebi’s trading restrictions on shares of six suspected shell companies which includes Parsvnath Developers and has asked the regulator to hear them and also probe them.
The other five companies that got relief are Kavit Industries, Pincon Spirit, Signet Industries, SQS India BFSI and KKalpana Industries.
On August 7, the capital market regulator Sebi had asked stock exchanges to restrict trading in shares of 331 suspected shell companies, some of which have several well-known domestic and foreign investors.
