April 01, 2009
PR No. 119/2009
Consent order in the matter of Nissan Copper Ltd.
A Panel consisting of Whole Time Members, SEBI, Shri M.S. Sahoo and Dr. K. M. Abraham has passed a consent order dated March 26, 2009, on the applications submitted by Shri Mukesh R. Agarwal, Smt Sharvari M. Agarwal and Shri Tanmay T. Agarwal in the matter of dealing in Nissan Copper Limited in accordance with SEBI guidelines dated April 20, 2007 for consent orders.
The High Powered Advisory Committee (HPAC) considered the consent terms offered by the applicants and, after deliberations, recommended the case for settlement. As per the terms of settlement, the amount withheld by BSE on account of the applicant pursuant to SEBI Order dated January 17, 2007 plus interest accrued thereon shall be transferred to SEBI as settlement charges.
It may be mentioned that SEBI vide Order dated January 17, 2007, had directed BSE to withhold the profits made by these applicants and others from their alleged irregular trades executed in the shares of Nissan Copper Limited on December 29, 2006 and January 2, 2007 in a separate escrow account.
|
Sl.No
|
Name
of the entity
|
Amount
withheld by BSE on account of the applicant
|
|
1
|
Shri
Mukesh R. Agarwal
|
Rs.34,59,820
|
|
2
|
Smt
Sharvari M. Agarwal
|
Rs.40,36,942
|
|
3
|
Shri
Tanmay T. Agarwal
|
Rs.40,36,942
|
Mumbai
April 01, 2009
|
