Morepen Labs tanks 20% as Sebi prohibits access to capital mkt for 1 year

In a clarification issued today, the company said that the matter was pertaining to the year 2003 which has been finally settled by the Sebi.

Shares of Morepen Laboratories were locked in the lower circuit band of 20 per cent at Rs 17.40 on the BSE on Wednesday after market regulator Securities Exchange Board of India (Sebi) prohibited the company from accessing the capital market and restrained it from dealing in securities, including units of mutual funds, for a period of one year.

The trading volumes jumped more than three-fold, with only sellers being seen on the counter, with a combined 5 million shares changing hands on the BSE and NSE. At 02:40 pm, there were a combined pending sell orders for 301,974 shares on