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April 18, 2006
PR No.
123/2006
Order against M/s. Santosh K. Kejriwal Securities Pvt. Ltd. in the matter of Adinath Bio-Labs Ltd.
Securities and Exchange Board of India (SEBI) vide ad interim order dated November 30, 2005 had prohibited M/s. Santosh K. Kejriwal Securities Pvt. Ltd. not to buy, sell or deal in securities, in any manner, either directly or indirectly, till further directions in this regard in the matter of Adinath Bio-Labs Ltd.
Pursuant to the interim order, as requested by the broker and in adherence to the principles of natural justice, personal hearing was granted to the broker on April 07, 2006. After considering the oral submissions during the course of hearing and written submissions, the following order has been passed by Shri G.Anantharaman, Whole Time Member, SEBI on April 13, 2006.
The ad interim order dated November 30, 2005 against the broker with all the directions mentioned therein is confirmed. Further, the restriction imposed in the said ad interim ex parte order will operate with respect to the broker�s dealings in the Calcutta Stock Exchange (CSE), as the ex parte order was in the context of manipulation of penny stocks traded in CSE.
These directions shall come into force with immediate effect.
Mumbai
April 18, 2006
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