Issued by : PRIMARY MARKET DEPARTMENT

Subject : M/s Ambuja Zinc Ltd.-Action against vanishing company

M/s.Ambuja Zinc Ltd.(AZL) came out with a public issue of 21,42,000 equity shares of Rs.10/- each for cash at par in May 1992 aggregating Rs.214.2 lacs for listing its shares at Patna, Mumbai and Delhi Stock Exchanges vide its prospectus dated 31.3.92. 
 
It was found that the Company was not complying with the requirements of listing agreement as well as other relevant legal and statutory requirements. Further, physical verification conducted by Magadh Stock Exchange revealed that the company was not located its registered office address.
 
The Calcutta Task Force (comprising of DCA Officers, SEBI Officials and concerned Stock Exchange Officials) in its meeting held on April 2nd 2002, identified AZL as non traceable. SEBI issued show cause notices to the Company and its Directors. After due process, vide orderorder dated 27th September 2002, u/s 11B of the SEBI Act, 1992, SEBI directed the company and its Directors as per details given below, to disassociate themselves in every respect from the capital market related activities and not to access the capital market for a period of five years, i.e. 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. Further, the public companies in which the above directors hold controlling or substantial interest shall not be allowed to raise funds from the capital market for a period of five years.

Sr.No.	Name of the Company	Address
1	Ambuja Zinc Limited	Manish Villa, Patliputra Colony, Patna – 800 013, Bihar
	Name of the Directors	Address
1	Shri Durga Prasad Gupta	188, Patliputra Colony, Patna
2	Shri Shyam Sundar Gupta	Greater Kailash Part II, New Delhi
3	Shri Gopi Krishna Gupta	Manish Villa, New Patliputra Colony, Patna – 800 013
4	Shri Madan Mohan Choudhary	B176, Peoples Co-op, Kankad Bagh, Patna – 800 020
5	Shri Krishna Vadan R Desai	Gokul, 8, Shivranjan Society, Satellite Road, Ahmedabad – 380 015

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 Companies and their Directors.