Green signal for DSQ probe

A division bench of the Madras high court last week lifted the stay on the probe into the DSQ Software imbroglio that rocked the Calcutta Stock Exchange in 2001.

An interim order by the single-member company bench of the high court had, in July 2003, put a stay on the Serious Frauds Office (SFO) investigation into “unauthorised allotment” of the company’s 1.3 crore equity shares to three firms.

These shares were ostensibly given to the three firms to buy into Fortuna, a US-based technology company, which later denied having sold any shares to them.