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SEBI bans fund manager

New Delhi Aug. 9. Market regulator SEBI has banned Samir Arora, the high-profile Singapore-based fund manager of Alliance Capital Asset Management Company who quit his job to float a new asset management business in India, from the capital markets.

The Securities and Exchange Board of India in its order said its investigation had found Mr. Arora to be involved in insider trading and ``his association in the securities market in any capacity is prejudicial to the interests of the investors and the safety and integrity of the securities market''. — UNI

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