PRESS RELEASE - SEBI
May 19, 2000
PR No. 113/2000

Action in respect of companies not complying with the listing agreement and not physically traceable at the registered office address mentioned in the offer document.
  
PRIMARY MARKET DEPARTMENT 

On May 11, 2000, SEBI issued 11B orders in respect of 4 companies and 7 directors (included in annexure I) prohibiting them from entering into the capital market for a period of 5 years. 

With these orders, SEBI has so far issued 11B against 61 companies and 222 directors prohibiting them from associating in every respect from the capital market activities. The order would mean that the companies and promoters/directors are prohibited from associating in every respect from the capital market activities and not to deal in securities and to access the capital market, more specifically not be allowed to raise funds from capital market and shall not be or be associated with any of the intermediaries in the capital market for a period of 5 years. 

In addition to these, the cases would also be referred to the State governments for their action where cheating or fraud is suspected. SEBI has also sought information from the investors about vanishing companies. The companies referred by the investors are under scrutiny and action in terms of the SEBI Act and the Companies Act would be initiated once the identification process is completed.


ANNEXURE I

A. DETAILS OF COMPANIES THAT ARE DEBARRED
 
S.NO NAME OF COMPANY ADDRESS
1. Danin Leathers Ltd. 6/290 A, Rani ka Ghera, Belanganj, Agra 282004.
2. Raymed Labs Ltd. L-107, 2nd Floor, Lajpat Nagar II, New Delhi 110024
3. Shefali Papers Ltd. 55, Prem Vatika, Mission Compound, Saharanpur, UP 247001.
4. Vadra Investments Ltd. B-9, Thapar Chambers III, D.B. Gupta Road, New Delhi - 110055.
 
B. DETAILS OF DIRECTORS THAT ARE DEBARRED
  
S.NO NAME OF DIRECTOR ADDRESS
1. Sanjay Mahajan, Director, 

Danin Leathers Ltd.

S/o Mr. Keshav Ram Mahajan, R/o 3/30, Khandari, Agra.
2. Ajay Mahajan, Director, 

Danin Leathers Ltd.

S/o Mr. Keshav Ram Mahajan, R/o 3/30, Khandari, Agra.
3. Keshav Ram Mahajan, Director, 

Danin Leathers Ltd.

S/o Ram Lal Mahajan, R/o 3/30, Khandari, Agra.
4. Sanjay Malhotra, Director, 

Raymed Labs Ltd.

S/o Mr.P.N. Malhotra, R/o 21, Double Storey, Hakikat Nagar, 

Saharanpur (UP) - 247001.

5. Smt. Neelam Saini, Director, 

Raymed Labs Ltd.

W/o Dr.Sushil Kr.Saini, R/o N-1, Hakikat Nagar, 

Saharanpur (UP) - 247001.

6. Garib Dass, Director, 

Shefali Papers Ltd.

S/o Mr.Ram Prasad, 48-B, Race Course Dehradun, UP.
7. Rakesh Kr. Talwar, Director, 

Shefali Papers Ltd.

S/o Mr.Madan Lal Samarpan, Chander Nagar, Saharanpur, UP.