|
January 13, 2006
PR No.
23/2006
Order in the matter of (1) Prime Capital Market Ltd., (2) Subh Laxmi Projects Ltd., (3) Global Capital Market Ltd., (4) Bankam Investments Ltd., (5) S. T. Services Ltd. and (6) Amluckie Investment Co. Ltd.
SEBI vide order dated September 29, 2005 has issued the following directions in the matter of (1) Prime Capital Market Ltd., (2) Subh Laxmi Projects Ltd., (3) Global Capital Market Ltd., (4) Bankam Investments Ltd., (5) S. T. Services Ltd. and (6) Amluckie Investment Co. Ltd.:
-
The following eleven stock brokers of Calcutta Stock Exchange (CSE) shall not buy, sell or deal in securities, in any manner, either directly or indirectly, till further directions in this regard:
(a) Sanju Kabra
(b) Shivam Stock Broking Pvt. Ltd.
(c) D B & Co.
(d) Rajendra Prasad Shah
(e) Badri Prasad & Sons
(f) M Bhiwaniwala & Co.
(g) Ram Mohan Sarda
(h) A V Shares & Stock Brokers Pvt. Ltd.
(i) Shyam Lal Sultania
(j) Ahilya Commercial Pvt. Ltd.
(k) S Jhunjhunwala & Co.
-
The trading in the following companies shall remain suspended till further directions issued in this regard.
a) Prime Capital Market Ltd.
b) Subh Laxmi Projects Ltd.
c) Global Capital Market Ltd.
d) Bankam Investments Ltd.
e) S. T. Services Ltd.
f) Amluckie Investment Co.
Pursuant to the interim order passed on September 29, 2005, the above entities were requested to submit their responses. As requested by the entities and in adherence to the principles of natural justice, personal hearing was granted to the above entities / brokers on December 09, 2005. After considering the oral submissions during the course of hearing and written submissions, the following order has been passed by Shri G Anantharaman, Whole Time Member, SEBI on January 12, 2006.
-
The interim order regarding the suspension of 11 CSE Brokers shall remain in force till further orders which SEBI may pass on conclusion of the investigation proceeding.
-
The ex-parte interim order dated September 29, 2005 against the company Globe Capital Market Ltd, Amluckie Investments Ltd and S.T. Services Ltd shall stands vacated.
The ex-parte interim order dated September 29, 2005 against Subh Laxmi Projects Ltd and Bankam Investments Ltd shall remain in force till further orders which SEBI may pass on conclusion of the investigation proceeding.
The ex-parte interim order dated September 29, 2005 shall remain in force till the deletion of the name of the entity from the list of vanishing companies as appeared in the Public Notice dated October 14, 2005 issued by the Ministry of Company Affairs.
-
The directions in relation to the six companies as referred above are without prejudice to the actions by CSE and also without prejudice to the outcome of findings in investigations.
-
CSE is directed to initiate suitable action for proper maintenance of records relating to listing requirements and is also advised to be more vigilant to avoid such occurrence in the future.
These directions shall come into force with immediate effect.
Mumbai
January 13, 2006
|
