For full copy of order against BABITA AGARWAL, click here.

For full copy of order against BHARTI JAIN, click here.

For full copy of order against BHAVNA MEHTA, click here.

For full copy of order against BHAVNA MEHTA, click here.

For full copy of order against COMPETENT TRADING PVT.LTD., click here.

For full copy of order against COMPETENT TRADING PVT.LTD., click here.

For full copy of order against COMPETENT TRADING PVT.LTD., click here.

For full copy of order against DHARAMSHI CAPITAL SERVICES, click here.

For full copy of order against DOMINANCE TRADE & INVESTMENTS LTD., click here.

For full copy of order against DOMINANCE TRADE & INVESTMENTS LTD., click here.

For full copy of order against DOMINANCE TRADE & INVESTMENTS LTD., click here.

For full copy of order against DRAUPADI KAYAL, click here.

For full copy of order against GAINFUL EXPORTS PVT.LTD., click here.

For full copy of order against GAINFUL EXPORTS PVT.LTD., click here.

For full copy of order against GAINFUL EXPORTS PVT.LTD., click here.

For full copy of order against JITEN MEHTA, click here.

For full copy of order against JITEN MEHTA, click here.

For full copy of order against JITEN MEHTA, click here.

For full copy of order against KAVITA JAIN, click here.

For full copy of order against KRISHNA FILAMENTS LTD., click here.

For full copy of order against KRISHNA KUMAR AGARWAL, click here.

For full copy of order against KRISHNA VINYLS LTD., click here.

For full copy of order against LUNKARAN KAYAL, click here.

For full copy of order against LUNKARAN KAYAL, click here.

For full copy of order against LUNKARAN KAYAL, click here.

For full copy of order against LUNKARAN KAYAL, click here.

For full copy of order against LUNKARAN KAYAL, click here.

For full copy of order against LUNKARAN KAYAL, click here.

For full copy of order against LUNKARAN KAYAL, click here.

For full copy of order against LUNKARAN KAYAL, click here.

For full copy of order against LYRIC INVESTMENT & TRADING PVT.LTD., click here.

For full copy of order against LYRIC INVESTMENT & TRADING PVT.LTD., click here.

For full copy of order against LYRIC INVESTMENT & TRADING PVT.LTD., click here.

For full copy of order against M.B.JOSHI, click here.

For full copy of order against MAHENDRA PATOLE, click here.

For full copy of order against MALALAXMI PILLAI, click here.

For full copy of order against MARVELLOUS TRADING PVT.LTD., click here.

For full copy of order against MARVELLOUS TRADING PVT.LTD., click here.

For full copy of order against MARVELLOUS TRADING PVT.LTD., click here.

For full copy of order against MEENAKSHI KABRA, click here.

For full copy of order against MURARI PODDAR, click here.

For full copy of order against MURARI PODDAR, click here.

For full copy of order against MURARI PODDAR, click here.

For full copy of order against MURARI PODDAR, click here.

For full copy of order against MURARI PODDAR, click here.

For full copy of order against MURARI PODDAR, click here.

For full copy of order against MURUGAN PILLAI, click here.

For full copy of order against MURUGAN PILLAI, click here.

For full copy of order against MURUGAN PILLAI, click here.

For full copy of order against MURUGAN PILLAI, click here.

For full copy of order against MURUGAN PILLAI, click here.

For full copy of order against MURUGAN PILLAI, click here.

For full copy of order against MURUGAN PILLAI, click here.

For full copy of order against NITIN DESHPANDE, click here.

For full copy of order against NITIN DESHPANDE, click here.

For full copy of order against OM PRAKASH AGARWAL, click here.

For full copy of order against PRAMILA MEHTA, click here.

For full copy of order against PRECISE EXPORTS LTD., click here.

For full copy of order against PRECISE EXPORTS LTD., click here.

For full copy of order against PRECISE EXPORTS LTD., click here.

For full copy of order against R.K.AGARWAL, click here.

For full copy of order against RAJASHREE MEHTA, click here.

For full copy of order against RATNESH CHAND JAIN, click here.

For full copy of order against RATNESH CHAND JAIN, click here.

For full copy of order against RATNESH CHAND JAIN, click here.

For full copy of order against RATNESH CHAND JAIN, click here.

For full copy of order against RATNESH CHAND JAIN, click here.

For full copy of order against RATNESH CHAND JAIN, click here.

For full copy of order against REENA JAIN, click here.

For full copy of order against REENA JAIN, click here.

For full copy of order against REENA JAIN, click here.

For full copy of order against REENA JAIN, click here.

For full copy of order against REENA JAIN, click here.

For full copy of order against RENUKA MOTWANI, click here.

For full copy of order against RENUKA MOTWANI, click here.

For full copy of order against RESPONSIVE PLASTICS PVT.LTD., click here.

For full copy of order against RESPONSIVE PLASTICS PVT.LTD., click here.

For full copy of order against RESPONSIVE PLASTICS PVT.LTD., click here.

For full copy of order against SANJAY KABRA, click here.

For full copy of order against SHARAD KUMAR AGARWAL, click here.

For full copy of order against SIJI NAIR, click here.

For full copy of order against SUBHALAXMI PILLAI, click here.

For full copy of order against SUNDEEP KABRA, click here.

For full copy of order against SUNIL RADHAKRISHNAN NAIR, click here.

For full copy of order against SUNIL RADHAKRISHNAN NAIR, click here.

For full copy of order against SUNIL RADHAKRISHNAN NAIR, click here.

For full copy of order against SUNIL RADHAKRISHNAN NAIR, click here.

For full copy of order against SUNIL RADHAKRISHNAN NAIR, click here.

For full copy of order against SUNIL RADHAKRISHNAN NAIR, click here.

For full copy of order against SUNIL RADHAKRISHNAN NAIR, click here.

For full copy of order against SUSHILKUMAR AGARWAL, click here.

For full copy of order against VIJAYALAKSHMI PODDAR, click here.

For full copy of order against VIJAYALAKSHMI PODDAR, click here.

For full copy of order against VIJAYALAKSHMI PODDAR, click here.

For full copy of order against VIJAYALAKSHMI PODDAR, click here.

For full copy of order against VIJAYALAKSHMI PODDAR, click here.

For full copy of order against VIJAYALAKSHMI PODDAR, click here.

For full copy of order against VIJAYALAKSHMI PODDAR, click here.

For full copy of order against VISHWANATHAN PILLAI, click here.

PRESS RELEASE - SEBI

September 14, 2004
PR No. 226/2004

Direction against M/s. Krishna Filaments Ltd. and its Promoters / Directors and associate concerns / entities

The Securities and Exchange Board of India (SEBI) has passed an Order dated September 10, 2004, against M/s. Krishna Filaments Ltd. and its Promoters / Directors and Associate Concerns / Entities in the matter of M/s. Krishna Filaments Ltd. 
 
Chairman, in exercise of the powers conferred upon him under sub-section (3) of Section 4 read with Section 11B and Section 11 of the Securities and Exchange Board of India Act, 1992 read with regulation 11 of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 1995 read with regulation 13 of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations,2003, in order to protect the interests of investors in securities, has prohibited M/s. Krishna Filaments Ltd. and its Managing Director Shri K.K Agarwal, from accessing the capital market and dealing in securities respectively for a period of 5 (five) years, except for discharging their obligation to give public announcement as mentioned in the order. 
 
The remaining Directors of KFL and the associate companies/promoters and their Directors have also been prohibited. Shri S.K. Agarwal, Shri R.K. Agarwal and Shri O.P. Agarwal and the associate concerns / entities of KFL such as 1) Jiten Mehta, 2) M/s. Dharamshi Capital Services, 3) M/s. Krishna Vinyls Ltd., 4) Smt. M.B.Joshi, 5) M/s. Marvellous Trading Pvt. Ltd. and its Directors such as Ratnesh Chand Jain, Reena Jain, Nitin Deshpande, Sunil Radhakrishnan Nair, Murugan Pillai, Murari Poddar, Lunkaran Kayal, Vijayalakshmi Poddar, Siji Nair, Sundeep Kabra and Meenakshi Kabra; 6) M/s. Precise Exports Ltd. and Its Directors such as Ratnesh Chand Jain, Reena Jain, Renuka Motwani, Murugan Pillai, Sunil Nair, Murari Poddar, Lunkaran Kayal, Vijayalaxmi Poddar and Draupadi Kayal; 7) M/s. Competent Trading Pvt.Ltd. and its Directors such as Ratnesh Chand Jain, Reena Jain, Renuka Motwani, Bhavna Mehta, Sunil Nair, Murugan Pillai, Murari Poddar, Lunkaran Kayal and Vijayalaxmi Poddar 8) M/s. Gainful Exports Pvt.Ltd. and its Directors such as R.C. Jain, Reena Jain, Sunil Nair, Jiten Mehta, Murugal Pillai, Murari Poddar, Lunkaran Kayal, Vijayalaxmi Poddar, Rajashree Mehta, Pramila Mehta; 9) M/s. Responsive Plastics Pvt.Ltd. and its Directors such as Ratnesh Chand Jain, Reena Jain, Jiten Mehta, Nitin Deshpande, Sunil Nair, Murugan Pillai, Murari Poddar, Lunkaran Kayal, Vijayalaxmi Poddar, Sushilkumar Agarwal And Babita Agarwal; 10 ) M/s. Dominance Trade And Investments Ltd. and its Directors such as Kavita Jain, Bharti Jain, Bhavna Mehta, Murugan Pillai, Sunil Nair, Murari Poddar, Lunkaran Kayal, Vijayalaxmi Poddar, Subhalaxmi Pillai And Vishwanathan Pillai; 11) M/s. Lyric Investment And Trading Pvt.Ltd. and its Directors such as Ratnesh Chand Jain, Mahendra Patole, Sanjay Kabra, Murugan Pillai, Lunkaran Kayal, Vijayalaxmi Poddar, Malalaxmi Pillai 12) Shri Sunil Nair and 13) Shri Lunkaran Kayal have been prohibited from accessing the capital market and dealing in securities for a period of 5 (five) years for aiding, abetting and assisting in manipulation in the scrip of Krishna Filaments Ltd. 1) in contravention of regulation 4(a),(c),(d) and (e) of the SEBI ( Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market ) Regulations,1995 read with regulation 13 of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations,2003,, and 2) for acting-in-concert in violation of the regulation 11(2) of the SEBI ( Substantial Acquisition of Shares and Takeovers) Regulations,1997 except for discharging their obligation to give public announcement as mentioned in the order.
 
Further, the Directors of the Krishna Filaments Ltd. namely; 1) Shri O.P.Agarwal, Chairman; 2) Shri K.K.Agarwal, Managing Director, 3) Shri R.K.Agarwal, Director and 4) Shri S.K.Agarwal, Director and the associate concerns / entities of KFL and their directors, namely; 1) M/s. Marvellous Trading Pvt.Ltd. and its Directors namely; Ratnesh Chand Jain, Reena Jain, Nitin Deshpande, Sunil Radhakrishnan Nair, Murugan Pillai, Murari Poddar, Lunkaran Kayal, Vijayalakshmi Poddar, Siji Nair, Sundeep Kabra and Meenakshi Kabra; 2) M/s. Precise Exports Ltd. and its Directors namely; Ratnesh Chand Jain, Reena Jain, Renuka Motwani, Murugan Pillai, Sunil Nair, Murari Poddar, Lunkaran Kayal, Vijayalaxmi Poddar and Draupadi Kayal; 3) M/s. Competent Trading Pvt. Ltd. and its Directors namely; Ratnesh Chand Jain, Reena Jain, Renuka Motwani, Bhavna Mehta, Sunil Nair, Murugan Pillai, Murari Poddar, Lunkaran Kayal and Vijayalaxmi Poddar; 4) M/s. Gainful Exports Pvt.Ltd. and its Directors namely; R.C. Jain, Reena Jain, Sunil Nair, Jiten Mehta, Murugal Pillai, Murari Poddar, Lunkaran Kayal, Vijayalaxmi Poddar, Rajashree Mehta, Pramila Mehta; 5) M/s. Responsive Plastics Pvt. Ltd. and its Directors namely; Ratnesh Chand Jain, Reena Jain, Jiten Mehta, Nitin Deshpande, Sunil Nair, Murugan Pillai, Murari Poddar, Lunkaran Kayal, Vijayalaxmi Poddar, Sushilkumar Agarwal and Babita Agarwal; 6) M/s.Dominance Trade And Investments Ltd. and its Directors namely; Kavita Jain, Bharti Jain, Bhavna Mehta, Murugan Pillai, Sunil Nair, Murari Poddar, Lunkaran Kayal, Vijayalaxmi Poddar, Subhalaxmi Pillai and Vishwanathan Pillai; 7) M/s. Lyric Investment And Trading Pvt.Ltd. and its Directors namely; Ratnesh Chand Jain, Mahendra Patole, Sanjay Kabra, Murugan Pillai, Lunkaran Kayal, Vijayalaxmi Poddar and Malalaxmi Pillai 8) Shri Jiten Mehta 9) Shri Sunil Nair 10) Shri Lunkaran Kayal 11) Krishna Vinyl Ltd. 12) Dharamshi Capital Services and 13) Smt.M.B.Joshi have been directed to make public announcements as required under Chapter III of the said Regulations in terms of sub-regulation (2) of regulation 11 of the SEBI (Substantial Acquisition of Shares and Takeovers ) Regulations,1997 taking March 31, 1998 as the reference date for calculation of offer price. The public announcement shall be made within 45 ( forty five ) days of passing of the Order.
 
In terms of sub-regulation (12) of regulation 22 of the SEBI ( Substantial Acquisition of Shares and Takeovers ) Regulations,1997, the payment of consideration to the shareholders of the KFL has to be paid within 30 ( thirty) days of the date of closure of the offer. The maximum time period provided in the said Regulations for completing the offer formalities in respect of an open offer is 120 days from the date of public announcement. The public announcement in the instant case ought to have been made taking March 31, 1998 as a reference date and thus the entire offer process would have been completed latest by July 29, 1998. Since no public announcement for acquisition of shares of KFL has been made, which has adversely affected the interests of shareholders of KFL, it would be just and equitable to direct the acquirer to pay interest @ 10% per annum on the offer price. The acquirer viz. KFL has been directed to pay interest @ 10% (ten per cent] per annum to the shareholders for the loss of interest caused to the shareholders from July 30, 1998 till the date of actual payment of consideration for the shares to be tendered in the offer directed to be made by the Acquirer.
 
This order shall come into force with immediate effect.
 
 
Mumbai
 
September 14, 2004