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Sebi threatens action against Sterling Holiday Resorts
The Securities and Exchange Board of India (Sebi) today directed Chennai-based Sterling Holiday Resorts (India) Ltd to dematerialise 299,800 shares of the company registered in the name of Gujarat Industrial Investment Corporation Ltd (GIIC), failing which it said it would act against the company and its directors. The order is a follow-up to Sebi’s own order of August 2005, based on a complaint