Gammon India appeals against Sebi order

Gammon India yesterday filed an appeal with the SAT against Sebi order dated December 21, 2006, banning the proposed IPO of its susbidairy Gammon Infrastructure Projects (GIPL).

According to a release issued by Gammon India to the BSE today, Sebi had written a letter to the merchant bankers of GIPL IPO on February 02, 2007, stating that the IPO cannot be permitted for a period of one year from and earlier SEBI order dated December 21, 2006.