ORDER DEBARRING M JAYAKUMAR, PROPRIETOR OF RAGAVI INVESTMENTS, TIRUPUR, TAMILNADU FROM ASSOCIATING WITH CAPITAL MARKET RELATED ACTIVITIES, DEALING IN SECURITIES, ACCESSING THE CAPITAL MARKET AND ASSOCIATING WITH ANY OTHER INTERMEDIARY IN THE CAPITAL MARKET FOR A PERIOD OF 2 YEARS.

SEBI had ordered an investigation into the affairs relating to buying, selling and dealings in the shares of M/s. Jindal Iron and Steel Company Ltd. (JISCO) for alleged market manipulation. During the course of investigation it was found that Mr M Jayakumar, of Ragavi Investments colluded with Shri V. Balasubramanium of Weldeal Shares Pvt. Ltd. (member Coimbatore Stock Exchange) and executed transactions in a fraudulent manner, and thereby violated Regulation 3 and 6(a) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices In The Securities Market) Regulations, 1995. 

Pursuant to the completion of investigation and after considering the submissions as well as facts and circumstance of the case, Shri M Jayakumar, Proprietor of Ragavi Investments, Tirupur, Tamilnadu has been debarred from acting in any capacity whatsoever, from associating with capital market related activities, dealing in securities, accessing the capital market and associating with any other intermediary in the capital market for a period of 2 years with effect from January 11, 2003.