Sebi directs Baader Bank to make open offer in Parsoli Corp

Also asks the firm for an interest of 10% per annum from Oct 2006 to shareholders

Capital market regulator Sebi has asked German financial services firm Baader Bank Aktiengesellschaft to make an open offer to shareholders of Parsoli Corporation.

The regulator has also asked Baader Bank for an interest of 10% per annum from October 2006 to shareholders who were holding shares of Parsoli Corporation on the date of violation and also those whose shares are accepted in the open offer.

The matter dates back to April 2006, when acquisition of shares in domestically listed Parsoli Corporation by the German firm had triggered the open offer obligation.