February 06, 2006
PR No. 81/2006

Orders against Shri Vidyut Devendrakumar, Parklight Investments Pvt. Ltd., M J Shah and Company, KBS Capital Management Ltd., M P Vora Shares and Securities Pvt. Ltd., Kirtikumar K Shah, Manashvi Securities Ltd., Shri Nimesh Manaharlal Shah and Shri Ashish Suresh Shah and Rushil Enterprises for dealings in the scrip of Mangalya Exports Ltd.

1)      M/s. Parklight Investments Pvt. Ltd., Member � BSE (Regn. No. INB 011037836), M J Shah and Company, sub broker, Regn. No. INS 010172422, KBS Capital Management Ltd., Member - BSE (Regn No. INB 010913532), M P Vora Shares and Securities Pvt. Ltd., Member - BSE (Regn No. INB 011044139), Kirtikumar K Shah (now V & U Securities Pvt. Ltd.) sub broker of M. P. Vora Shares & Securities Pvt. Ltd. ( SEBI Regn No. INS 010661812), have been awarded a penalty of warning/censure. The brokers/ sub brokers have been found guilty of violating the provisions of the Code of Conduct as specified in SEBI (Stock Brokers and Sub Brokers) Regulations, 1992 while dealing in the shares of Mangalya Exports Ltd.

2)      The proceedings under SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 against Shri Vidyut Devendra Kumar, Member � BSE (Regn. No. INB 01300018) and Manashvi Securities Ltd. Member � BSE (Regn. No. INB 010982034) for their dealings in the shares of Mangalya Exports Ltd. have been dropped.  

3)      Further the investors Shri Nimesh Manharlal Shah, Shri Ashish Suresh Shah and his firm M/s. Rushil Enterprises have been restrained from associating with any corporate body in accessing the securities market and prohibited from buying, selling or dealing in securities, in any manner for a period of one year for violations of the provisions of SEBI (Prohibition of Fraudulent and Unfair Trade practices Relating to Securities Market), Regulations, 1995 while dealing in the shares of Mangalya Exports Ltd.

The orders have been passed by Shri Madhukar, Whole Time Member, SEBI on January 31, 2006.
 
 
Mumbai

February 06, 2006

For full copy of order against ASHISH SURESH SHAH, click here.

For full copy of order against KBS CAPITAL MANAGEMENT LTD., click here.

For full copy of order against KIRTIKUMAR KANTILAL SHAH, click here.

For full copy of order against KIRTIKUMAR KANTILAL SHAH,M/S, click here.

For full copy of order against M P VORA SHARES & SECURITIES PVT.LTD., click here.

For full copy of order against M.J.SHAH & CO., click here.

For full copy of order against NIMESH MANHARLAL SHAH, click here.

For full copy of order against PARK LIGHT INVESTMENT PVT.LTD., click here.

For full copy of order against RUSHIL ENTERPRISES, click here.