August 11, 2009
PR No. 252/2009
Order against Mr. Shadilal Chopra in the matter of Atlanta Ltd.
Shri M. S. Sahoo, Whole Time Member, SEBI, has passed an order dated August 10, 2009 in the matter of dealing by Mr. Shadilal Chopra in the shares of Atlanta Ltd.
SEBI vide its above order has, inter-alia, directed that Mr. Shadilal Chopra shall not buy, sell or deal in the securities market, directly or indirectly, for a period 45 days from the date of the order. It is further ordered by SEBI that the aforesaid entity shall also disgorge the unlawful gains of Rs. 66,20,209/- (Rupees sixty six lakh twenty thousand two hundred and nine only) made by him within 45 (forty five) days from the date of the order along-with the interest of Rs.23,83,275/- (Rupees twenty three lakh eighty three thousand two hundred and seventy five only) calculated @ 12% p.a. for a period of three years. Thus the total amount payable by Mr. Shadilal Chopra is Rs. 90,03,484/- (Rupees ninety lakh three thousand four hundred and eighty four only).
It is also ordered by SEBI that in case the above amount is not paid within the specified time, the entity shall be restrained from buying, selling or dealing in securities market in any manner whatsoever or accessing the securities market, directly or indirectly, for a further period of five years without prejudice to SEBI�s right to enforce disgorgement.
Mumbai
August 11, 2009
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