January 21, 2009
PR No. 048/2009

Order in the matter of M/s. DSQ Biotech Ltd.

Dr. T. C. Nair, Whole Time Member, SEBI, has passed an order dated January 13, 2009, in the matter of M/s. DSQ Biotech Ltd. issuing the following directions:

1. M/s. DSQ Biotech Ltd., its directors namely Shri Dinesh Dalmia (Chairman), Shri K. Gopalakrishnan (Managing Director), Shri M G Anant Kumar (Executive Director), Shri S Ganapathy Subramanium, Shri P S Balasubramanium and Shri Vasudev Subanthore shall not access the securities market, or buy, sell or deal in securities in any manner whatsoever, directly or indirectly for a period of ten years. 
    

2. M/s. DSQ Holdings Ltd., M/s. Powerflow Holdings and Trading Pvt. Ltd., M/s. Hulda Properties and Trades Ltd., M/s. Cooltex Commodities Pvt. Ltd., M/s. Berral Trading & Investment Co. Pvt. Ltd., M/s. Arun Polymers (P) Ltd. and M/s. Aspolight Barter shall not access the securities market, or buy, sell or deal in securities in any manner whatsoever, directly or indirectly for a period of ten years. 
    

3. Shri Dinesh Dalmia and M/s. DSQ Holdings Ltd. shall offer to purchase an equivalent amount of 80,30,000 shares of M/s. DSQ Biotech Ltd. from the entrapped shareholders. The promoters and related entities of the promoters shall not be allowed to participate in the said offer.
    

4. Shri Dinesh Dalmia and M/s. DSQ Holdings Ltd. are directed to deposit Rs.122.19 Crore in an escrow account for the said purchase of shares as directed above. The remaining amount, if any, lying with the above referred escrow account after the purchase, shall be credited to the Investor Protection Fund.
    

5. The offer through public announcement by M/s. DSQ Holdings Ltd. and Shri Dinesh Dalmia shall be made within a period of 45 days from the date of this order and the consideration shall be paid within a period of 90 days from the date of the public announcement. The provisions of the SEBI (Buyback of Securities) Regulations, 1998 shall, so far as may be, apply to and shall be complied with in respect of, such offer.
    

6. The shares so purchased by Shri Dinesh Dalmia and M/s. DSQ Holdings Ltd. shall be kept in a separate demat account. Pursuant to such purchase of shares, M/s. DSQ Biotech Ltd. would take necessary steps to extinguish / cancel the shares so bought back and report compliance to the SEBI.
    

7. It is clarified that the restraint order as directed in (i) & (ii) above shall not preclude Shri Dinesh Dalmia and M/s. DSQ Holdings Ltd. from buying shares from the market. 

The order shall come into force with immediate effect.

 

Mumbai

January 21, 2009

For full copy of order against ARUN POLYMERS PVT.LTD., click here.

For full copy of order against ASPOLIGHT BARTER PVT.LTD., click here.

For full copy of order against BERRAL TRADING & INVESTMENT CO.PVT.LTD., click here.

For full copy of order against COOLTEX COMMODITIES PVT.LTD., click here.

For full copy of order against DINESH DALMIA, click here.

For full copy of order against DINESH DALMIA, click here.

For full copy of order against DSQ BIOTECH LTD., click here.

For full copy of order against DSQ BIOTECH LTD., click here.

For full copy of order against DSQ HOLDINGS LTD., click here.

For full copy of order against DSQ HOLDINGS LTD., click here.

For full copy of order against HULDA PROPERTIES & TRADES LTD., click here.

For full copy of order against K.GOPALAKRISHNAN, click here.

For full copy of order against M.G.ANANT KUMAR, click here.

For full copy of order against P.S.BALASUBRAMANIUM, click here.

For full copy of order against POWERFLOW HOLDING & TRADING PVT.LTD., click here.

For full copy of order against S.GANAPATHY SUBRAMANIUM, click here.

For full copy of order against VASUDEV SUBANTHORE, click here.