December 01, 2009 
PR No. 368/2009

Order in the matter of Kwality Dairy India Limited

In view of the increase in the price of the shares of Kwality Dairy India Limited an examination was carried out by SEBI to look into the dealing of the shares of the company. It was observed that certain entities were carrying out a cycle of off-market transfer and market transaction i.e. purchase through market, which was repeated a number of times among them. Thus, by trading in a circular and synchronized manner these entities had generated fictitious trades and given a false misleading impression of large volumes of trading in the scrip. 
 
With a view to protect the interest of investors and securities market from such acts Dr. K.M. Abraham, Whole Time Member, SEBI has passed an ex-parte ad-interim order dated December 01, 2009 inter-alia directing:
 
a. Entities Bhupendra Singh Rathore, Leela Surana R, Mahasagar Securities, Rajesh Kumar Vyas and Rajesh Kumar Vyas not to buy, sell or deal in the securities in any manner till further directions in this regard.
 
b. The Sub-broker Surana Capital Market not to buy, sell or deal in the securities of Kwality Dairy India Limited in any manner till further directions in this regard. The sub-broker is further directed not to buy, sell or deal in the securities in its own account in any manner till further directions in this regard. 

The order has come into force with immediate effect.


Mumbai

December 01, 2009

For full copy of order against BHUPENDRA SINGH RATHORE, click here.

For full copy of order against LEELA SURANA R., click here.

For full copy of order against MAHASAGAR SECURITIES, click here.

For full copy of order against RAJESH KUMAR VYAS, click here.

For full copy of order against SURANA CAPITAL MARKETS, click here.

For full copy of order against SURANA CAPITAL MARKETS, click here.