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July 15, 2002
PR No. 129/2002
INVESTIGATION, ENFORCEMENT AND SURVEILLANCE DEPARTMENT
ACTION TAKEN FOR THE QUARTER ENDED JUNE, 2002.
During the quarter ended June 2002, SEBI has taken up 31 new cases for investigation. Enquiry Proceedings have been initiated against 6 intermediaries and adjudication proceedings against 25. Show Cause Notices have been served on 21 non-intermediaries. Orders have been passed ordering suspension of registration for varying periods against 10 intermediaries. Certificate of registration of 3 intermediaries have been cancelled. In addition, 14 intermediaries have been issued warning. 2 orders under Section 11 B of SEBI Act have been passed warning one person and prohibiting another from dealing in securities market for a period of 2 years.
A list of action taken by way of orders passed by Chairman are :
| Sr.
No.
|
In the case of |
Issued to |
Nature of intermediary |
Effective date |
| 1. |
V. R. Mathur Mass
Communications Ltd., Hyderabad |
SRG Infotech Ltd. |
Registrar & STA |
Immediate Effect |
| 2. |
Ketan Parekh & his
entities |
Triumph International
& Finance India Ltd. |
Member, NSE |
Immediate Effect |
| 3. |
Kamal Overseas Ltd. |
Rahil Investments |
Member, ASE, OTCEI, NSE |
26.6.02 |
| Sr.
No.
|
In the case of |
Issued to |
Nature of intermediary |
Period |
| 1. |
Rajesh Exports Ltd. |
Tamilnad Mercantile Bank |
Bankers to an Issue |
3 months w.e.f. 4.6.2002 |
| 2. |
Wipro Limited |
Shree Krishna & Co. |
Member, NSE |
1 month w.e.f. 20.5.2002 |
| 3. |
Yashodham Commercial
Enterprises Ltd. |
Shri R. B. Khandelwal |
Member, BSE |
1 month w.e.f. 10.6.2002 |
| 4. |
Credit Suisse First Boston
(I) Securities Pvt. Ltd. |
Credit Suisse First Boston
(I) Securities Pvt. Ltd. |
Broker NSE & BSE |
Suspension for a period of
2 years w.e.f. April 18, 2001. |
| 5. |
Bestavision Electronics
Ltd. |
Kishan & Co. |
Member LSE |
Suspension for a period of
6 months w.e.f. 10.6.02. |
| 6. |
Bestavision Electronics
Ltd. |
Kaul Securities Ltd. |
Member DSE |
Suspended for a period of
1 month w.e.f.10.6.2002 |
| 7. |
Hitechi Jewellery
Industries Ltd. |
Lotus Investments &
Securities |
Member NSE |
Suspended for 1 month
w.e.f 14.6.02 to 14.7.02 |
| 8. |
Amara Raja Batteries Ltd. |
Bid Securities Pvt. Ltd. |
Sub-broker to Anand Rathi
Securities Ltd., Member BSE |
Suspended for 6 months
w.e.f. 15.7.02 |
| 9. |
Amara Raja Batteries Ltd. |
Khandwala Shah &
Associates |
Sub-broker to P.K. Shah,
Member BSE |
Suspended for 1 year w.e.f.
15.7.02 |
| 10. |
Amara Raja Batteries Ltd. |
Alba Capital Market Pvt.
Ltd. |
Member NSE |
Suspended for 3 months
w.e.f. 15.7.02 |
| Sr.
No.
|
In the case of |
Issued to |
Nature of intermediary |
| 1. |
Amara Raja Batteries
Ltd. |
Motilal Oswal Securities Ltd.
Shri Dipak G. Cholera
Pragya Capital Services Ltd
|
Member NSE
Member BSE
Sub-broker to Dipak G. Cholera, BSE
|
| 2. |
Hitechi Jewellery
Industry Ltd. |
Punit Capital & Debt Market Pvt. Ltd.
Mangal Keshav Securities Ltd. (formerly known as Aldan
Investments)
|
Member, NSE
Member, BSE & NSE
|
| 3.. |
Saket Extrusions Ltd. |
State Bank of Indore
|
Merchant Banker |
| 4. |
Subhash Projects and
Marketing Ltd. |
Vysya Bank, H. B. Sarani Branch, Calcutta
|
Bankers to an Issue |
| 5. |
Amara Raja Batteries
Ltd. |
Sykes & Ray Equities (I) Ltd.
|
Member, BSE & NSE |
| 6. |
DSQ Biotech Ltd. |
B M Gandhi Securities (P) Ltd.
|
Member, BSE |
| 7. |
Soundcraft Industries
Ltd. |
Sharedeal Financial & Consultants (P) Ltd.
M. P. Vora Shares & Securities (P) Ltd.
K. G. Vora Securities Ltd.
Keynote Capitals Ltd.
DGP Securities Ltd.
|
Member, BSE
Member, BSE
Member, BSE
Member, NSE
Member, NSE
|
| d.
DIRECTIONS ISSUED U/S 11 B: 2 |
| Sr.
No.
|
Name of the case |
Directions issued to |
Directions passed |
| 1. |
Jindal Drugs Ltd. |
Shri Rajesh B. Singhania |
Warning |
| 2. |
Sangam Exports Ltd. |
Shri Bhavesh Parekh |
Prohibited from dealing in
securities market for a period of 2 years with immediate effect |
|