June 22, 2000
PR No. 131/2000
Action in respect of companies not complying with the listing agreement and not physically traceable at the registered office address mentioned in the offer document.
PRIMARY MARKET DEPARTMENT
On June 20, 2000, SEBI issued 11B orders in respect of 29 directors (given in annexure I) prohibiting them from entering into the capital market for a period of 5 years.
With these orders, SEBI has so far issued 11B against 61 companies and 251 directors prohibiting them from associating in every respect from the capital market activities. The order would mean that the companies and promoters/directors are prohibited from associating in every respect from the capital market activities and not to deal in securities and to access the capital market, more specifically not be allowed to raise funds from capital market and shall not be or be associated with any of the intermediaries in the capital market for a period of 5 years.
In addition to these, the cases would also be referred to the State governments for their action where cheating or fraud is suspected. SEBI has also sought information from the investors about vanishing companies. The companies referred by the investors are under scrutiny and action in terms of the SEBI Act and the Companies Act would be initiated once the identification process is completed.
No. |
Name of Director |
Name of Company |
1 |
SHRI. DHAVAL A.
JHAVERI |
AASHI INDS LTD |
2 |
SHRI PARAG
POPATBHAI PATEL |
ARROW SECURITIES |
3 |
SMT. J. VASANTHA |
AVR SECURITIESL
LIMITED |
4 |
SMT. VIJAY
LAKSHMI AHILAN |
AVR SECURITIESL
LIMITED |
5 |
SHRI HARISH SHAH |
BAHUMA POLYTEX
LIMITED |
6 |
SHRI LAXMIKANT
BHAGUBHAI |
BAHUMA POLYTEX
LIMITED |
7 |
SHRI. GOVINDRAM
KHETAN |
CITIZEN YARNS
LTD |
8 |
SHRI. MAHESH
RAMANLAL JANI |
CITIZEN YARNS
LTD |
9 |
SHRI BRIJESH
MUNDARA |
LYMPHA
LABORATORIES LTD |
10 |
SHRI UMESH SHAH |
LYMPHA
LABORATORIES LTD |
11 |
SHRI. BABUBHAI
JOITARAM PATEL |
MAHA CHEMICALS
LTD |
12 |
SHRI PRAMOD
PUROHIT |
MARINE CARGO
COMPANY LIMITED |
13 |
SHRI VANDAN
PATEL |
MEDHA FINANCE
AND SECURITIES LIMITED |
14 |
SMT. MEDHA R.
PATHAK |
MEDHA FINANCE
AND SECURITIES LIMITED |
15 |
SHRI H. N. SHAH |
MRUG
PHARMACEUTICALS LIMITED |
16 |
SHRI LAXMIKANT
B. PAREKH |
MRUG
PHARMACEUTICALS LIMITED |
17 |
SHRI N. ANAND |
NAVAKKARAI
SPINNERS LTD. |
18 |
SHRI P.
SUBRAMANIAM |
NAVAKKARAI
SPINNERS LTD. |
19 |
SHRI R.MOHAN
KUMAR |
NAVAKKARAI
SPINNERS LTD. |
20 |
SHRI. GOKUL B.
PATEL |
PERFACT WEAVERS
LTD |
21 |
SHRI SUDESHBHAI
PATEL |
SHREE SURGOVIND
TRADELINK LTD. |
22 |
Dr. USHAKANT
BHATT |
SHREEJI DYE-CHEM
LTD. |
23 |
SHRI LAVJIBHAI
PATEL |
SHREEJI DYE-CHEM
LTD. |
24 |
SHRI SAURINBHAI
SHAH |
SHREEJI DYE-CHEM
LTD. |
25 |
SHRI GOVINDBHAI
PATEL |
SHRI MAHALAXMI
AGRICULTURAL DEVELOPMENTS LTD. |
26 |
SHRI NILESH
DESAI |
SHUBHAM GRANITES
LTD. |
27 |
SHREE DEEPAK J.
KHAJANCHI |
SUPER DOMESTIC
MACHINES LTD. |
28 |
SHRI. AMUL M.
GANDHI |
SUSHIL
PACKAGINGS (INDIA) LTD |
29 |
SHRI. MADANLAL
R. JALANI |
SUSHIL
PACKAGINGS (INDIA) LTD |
|