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Digital denies leak in Arora imbroglio
August 11, 2003 11:27 IST
Last Updated: August 11, 2003 11:28 IST
Digital Globalsoft, in a release issued to the Bombay Stock Exchange on Monday, said the company has implemented and adopted comprehensive insider trading policy guidelines and processes, which are in compliance with the regulations of securities and Exchange Board of India and support best practices of corporate governance.
"The company and its concerned officials have been compliant with and conform to its policy guidelines and processes, Sebi regulations, trading restraints and the applicable disclosure norms," the release said.
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The company was reacting to the Sebi move over the weekend to ban ex-Alliance fund manager Samir Arora from the market on charges of insider trading in Digital Globalsoft and other issues."Digital maintains that it does not believe that any irregular flow of information could have emanated from within the company in this regard," the release added.
The company, the release further said, will offer and provide to the market regulator its complete support and co-operation on probing the issue.
The stock, which dipped to a low of Rs 440, has bounced a notch but was down 4 per cent or Rs 19 at Rs 458 on the BSE at 1105 hrs.