SUB: ORDER PASSED BY SEBI AGAINST SHRI KETAN V. PAREKH AND SHRI KARTIK K. PAREKH AND AGAINST KETAN V. PAREKH, KARTIK K. PAREKH, CLASSIC CREDIT LTD, PANTHER FINCAP & MANAGEMENT SERVICES LTD, LUMINANT INVESTMENT PVT LTD, SAIMANGAL INVESTRADE LTD, CHITRAKUT COMPUTERS PRIVATE LTD, CLASSIC INFIN LTD AND PANTHER INVESTRADE LTD 


Pursuant to the findings of investigations conducted by SEBI in the wake of excessive volatility in the index movements of stock exchanges in India during mid February to mid March 2001, SEBI vide Order dated December 12, 2003 has prohibited Shri Ketan V. Parekh, Kartik K. Parekh, Classic Credit Ltd., Panther Fincap and Management Services Ltd., Luminant Investment Pvt Ltd., Chitrakut Computers Pvt. Ltd., Saimangal Investrade Ltd., Classic Infin Ltd and Panther Investrade Ltd. from buying, selling or dealing in securities in any manner directly or indirectly and also debar them from associating with the securities market, for a period of fourteen years. The said order was passed against them after giving them an opportunity of hearing before the Chairman, SEBI. It is also clarified that the instant order does not preclude the actions taken or any other proceeding pending/to be taken in future by SEBI against the individuals/entities covered in this order. This order shall come into force with immediate effect.