August 08, 2008
PR No. 146/2008
Orders against M/s. Divya Jyot Securities, M/s. Bonanza Biotech Ltd., M/s. Coverage and Consultants Ltd., Shri Mitesh S. Shah and Shri Kamlesh Shah in the matter of M/s. Ojas Technochem Products Ltd.
Dr. T.C.Nair, Whole Time Member, SEBI has passed orders dated August 07, 2008 against M/s. Coverage and Consultants Ltd., M/s. Divya Jyot Securities, M/s. Bonanza Biotech Ltd., Shri Mitesh S. Shah and Shri Kamlesh Shah in the matter of M/s. Ojas Technochem Products Ltd.
M/s. Coverage and Consultants Ltd. has been restrained from accessing the securities market and also prohibited from buying, selling or otherwise dealing or associating with the securities market in any manner whatsoever for a period of two years for having contravened the provisions of Regulations 4(b) and (d) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 1995. M/s. Coverage and Consultants Ltd. were already restrained from accessing the securities market and also prohibited from buying, selling or dealing in securities either directly or indirectly for a period of seven years w.e.f October 22, 2007. This Order restraining and prohibiting M/s. Coverage and Consultants Ltd. from accessing the securities market for a period of two years will run concurrently.
The show cause notices issued to M/s. Divya Jyot Securities, M/s. Bonanza Biotech Ltd., Shri Mitesh S. Shah and Shri Kamlesh Shah have been disposed of without any directions in the matter of M/s. Ojas Technochem Products Ltd.
Mumbai
August 08, 2008
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