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March 27, 2006
PR No.
117/2006
Order in the matter of RP&C International and Coral Reef Inv. Co. Private Limited in the matter of Global Trust Bank
Securities and Exchange Board of India (SEBI) vide order dated March 21, 2006, has passed the following direction in the matter of RP&C International and Coral Reef Inv. Co. Private Limited in the matter of Global Trust Bank.
The matter does not call for any further directions in respect of RP&C International and Coral Reef Inv. Co. Private Limited., taking into account the relative role of RP&C International and Coral Reef Inv. Co. Private Limited as brought out, the submissions made, the facts and circumstances of the case and the interim order dated 31.12.02 whereby the entities were restrained from dealing only in GTB shares and which was in operation for over 17 months pending investigations and that RP&C International and Coral Reef Inv. Co. Private Limited are no longer operative since September 2003 in the Indian Capital Market , and the fact that the promoters of GTB were restrained from dealing in the shares of GTB for a period of 18 months vide SEBI Order dated 23rd March, 2004 and also considering that the scrip of GTB is not currently traded after its merger with Oriental Bank of Commerce.
Mumbai
March 27, 2006
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