May 16, 2002
PR No. 93/2002

Order against Shri Ketan Sheth and others

In view of the emergent situation in relation to the irregularities in the transactions in government securities by Home Trade Ltd. and related entities, SEBI, in order to ensure that the investors in the securities market do not in any way suffer any losses and are not put to any further harm, has today in exercise of the powers under Section 4(3) of the SEBI Act 1992 read with section 11 and 11B of the SEBI Act, advised that the following entities shall not buy, sell or deal in the securities market:- 

Shri Ketan Sheth; 

KSC Securities Ltd. Member, Pune Stock Exchange; 

Giltedge Credit Capital Ltd. (GCCL) Member NSE in derivatives and cash segments 

Giltedge Financial and Management Services Ltd. (GFMS) BSE sub-broker; 

Giltedge Equiderivatives Ltd., sub-broker 

Giltedge Investment Banking Services Ltd. - Category I Merchant Banker 

Giltedge Portfolio Management Services Ltd - Portfolio Manager 

These directions will be operative upto 30 May, 2002. A post decisional hearing is being given to Shri Ketan Sheth and the entities mentioned above on 27th May, 2002 at 11.00 a.m.