Sebi knuckle rap for Ispat director

Securities and Exchange Board of India (Sebi) has issued a warning to Anil Sureka, director, Ispat Industries, to be more careful in future while speaking in a public forum regarding the company's prospects and adhere to the code of corporate disclosure.

Sebi, in a release, said that Sureka, while making statements in an interview to the CNBC news channel on September 26, 2003, regarding quantitative projections of turnover, cost savings and export target resulting out of the planned capacity expansion, had failed to make adequate disclosures as per Sebi's insider trading regulations and listing agreement in respect of price sensitive information.