November 27, 2001
PR No. 203/2001

Subject: 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

SEBI had received reports of non-compliance with the legal and statutory requirements by certain companies after making public issues. SEBI had issued show cause notices to these companies. After due process, vide orders dated as mentioned against their names, SEBI directed M/s. P.K. Vaduvammal Finance Ltd. , (now known as Novel Finance (India) Ltd.) and Mr. G. Ramesh, the director of M/s. P.K. Vaduvammal Finance Ltd., (now known as Novel Finance (India) Ltd.) to disassociate themselves in every respect from the capital market related activities and not to deal in securities and to access the capital market, more specifically, they shall not be allowed to raise funds from the capital market, deal in securities and shall also not be or be associated with any of the intermediaries in the capital market for a period of 5 years. This Order shall come into force within a month from the date of this Order. These directions are being issued without prejudice to the right of SEBI to take any other action as deemed fit, under provisions of law, against the company and the directors. 

S. No. Name of the Company Address Date of the Order
1. Novel Finance (India) Ltd. (Formerly M/s. P K Vaduvammal Finance Ltd.) No. 8, Karpagambal Nagar, Mylapore, Chennai - 600 004 20-Sep-01
2. Sunrise Oleo Chemicals Ltd. No. 53, Surya Enclave, 3-50-235, Trimulgherry, Secunderabad 500 015. 20-Sep-01

S. No. Name of the Director Address Name of the Company Date of the Order
1. Shri. H. Srinivasulu 8, Street, 'F-154, West Anna Nagar, Madras. Sunrise Oleo Chemicals Ltd. 20-Sep-01
2. Shri. Udaya Sankara Rao H.No. 7-1-414/43, Plot No. 43, Srinivasanagar Colony (East), Sanjeevareddy Nagar, Hyderabad 500 038 Sunrise Oleo Chemicals Ltd. 20-Sep-01
3. Shri. C.V. Ramachandra Murthy Plot No. 91, Shalivahana Nagar, Hyderabad - 500 873 Sunrise Oleo Chemicals Ltd. 20-Sep-01
4. Shri. G. Ramesh 6, III Floor, City Centre Plaza No. 3, Mount Road, Madras - 600 002. Novel Finance (India) Ltd. 20-Sep-01

Notice is also given hereby to public at large to enable the members of public to furnish any information in respect of the companies, promoters and directors as mentioned above or any other company who are not traceable at the registered office address and who have not complied with the listing provisions.