April
28, 2016
PR No. 082/2016
Order in the matter of Lee Capital Services Private Limited
Shri S. Raman, Whole Time Member, Securities and Exchange Board of India (SEBI) has passed an order dated
March 31, 2016 against Lee Capital Services Private Limited, Sub-Broker of Cochin Stock Brokers Limited affiliated
to NSE and BSE and its Directors Mr. Santhosh Kumar K. L. and Mr. Kunjiraman Pillai inter-alia with the following
directionsi
- (a) Lee Capital Services Private Limited shall refund the monies so collected from its clients and other
investors through various schemes along with income, profits or returns promised to them under such schemes or
interest at the rate of 10% per annum, whichever is higher, from the date of investment till the date of refund within a
period of sixty (60) days;
(b) The Directors of Lee Capital Services Private Limited viz., Mr. Santhosh Kumar K.L. and Mr. Kunjiraman Pillai
shall jointly and severally refund the monies to the investors along with income, profits or returns promised
to them under various schemes of Lee Capital or interest at the rate of 10% per annum, whichever is higher, from the date
of investment till the date of refund within a period of sixty (60) days;
(c) Lee Capital Services Private Limited and its abovementioned Directors shall submit a repayment report to SEBI
in the format prescribed in the order and certified by two independent Chartered Accountants who are in
the panel of any public authority or public institution;
- (a) Lee Capital Services Private Limited shall not sell the assets except on
a specific request made in writing to SEBI in that regard;
(b) The Directors of Lee Capital viz., Mr. Santhosh Kumar K.L. and Mr.
Kunjiraman Pillai shall not sell their assets except on a specific request
made in writing to SEBI in that regard;
- Lee Capital Services Private Limited its directors viz., Mr. Santhosh Kumar K.L. and Mr. Kunjiraman Pillai
shall provide a full inventory of all assets and properties and details of all its bank accounts, demat accounts and
holdings of shares/securities, if additionally held in physical form.
- The Directors of Lee Capital viz., Mr. Santhosh Kumar K.L. and Mr. Kunjiraman Pillai may file
objections/submissions to SEBI within 30 days from the date of receipt of the order with respect to the directions
mentioned at
i (b) and ii (b) above; failing which the directions shall become absolute.
- The direction at sl.no. i(a) above shall take effect immediately on the date of the order.
- Lee Capital Services Private Limited and its Directors viz., Mr. Santhosh Kumar K.L. and Mr. Kunjiraman
Pillai are directed not to, directly or indirectly, access the securities market, and are further restrained and
prohibited from buying, selling or otherwise dealing in the securities market, directly or indirectly in whatsoever manner, from
the date of the Order, till the expiry of ten (10) years from the date of completion of refunds
to investors as directed above.
The order shall come into force with immediate effect.
Mumbai
April 28, 2016
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