February 20, 2006
PR No. 108/2006

Order in the matter of M/s. Home Trade Ltd.

Securities and Exchange Board of India (SEBI) vide order dated February 16, 2006, has passed the following directions in the matter of S/Sh. Russel Boekenkroeger, Dilip Jain, Vijendra Kumar Surana, Salil Dinkarlal Gandhi, Vijay H. Modi, Shashank Ranade and Manoj Shah, all Directors, in connection with M/s. Home Trade Ltd. (HTL). 
 
It was alleged that the aforesaid directors of M/s. Home Trade Ltd. were in control of the affairs of M/s. Home Trade Ltd. during the period of Offer for Sale of M/s. Home Trade Ltd. (erstwhile Euro Asian Securities Ltd.) and subsequently manipulated the scrip. On investigation it is clear that no such case has been made out and further there is no evidence to suggest that there is abdication of their duties and obligations or collusion and therefore these directors cannot be held liable for acts of the M/s. Home Trade Ltd. or acts of other Executive Directors acting for and on behalf of the company.
 
In the absence of corroborative evidence for the involvement of the aforesaid directors in the manipulation in the scrip of M/s. Home Trade Ltd., the case is disposed off against them without any direction giving them a benefit of doubt.
 
 
Mumbai

February 20, 2006

For full copy of order against DILIP JAIN, click here.

For full copy of order against MANOJ A.SHAH, click here.

For full copy of order against RUSSEL H.BOEKENKROEGER, click here.

For full copy of order against SALIL DINAKARLAL GANDHI, click here.

For full copy of order against SHASHANK G.RANADE, click here.

For full copy of order against VIJAY H.MODI, click here.

For full copy of order against VIJENDRA KUMAR SURANA, click here.