January 01, 2010
PR No. 001/2010

Order in the matter of Nissan Copper Limited

Shri. M.S. Sahoo, Whole Time Member, SEBI has passed an order dated December 30, 2009 restraining Deven Patel, Tejas Patel and Smitaben N. Shah from buying, selling or dealing in securities market in any manner whatsoever or accessing the securities market, directly or indirectly, for a period of three years from the date of the order. The order also directed impounding of unlawful gains of Rs.2,36,18,339/- (Rupees two crore thirty six lakh eighteen thousand three hundred thirty nine only) made by Deven Patel, Tejas Patel and Smitaben N.Shah. It may be mentioned that SEBI vide order dated January 17, 2007, had directed BSE and NSE to withhold the profits made by Deven Patel, Tejas Patel and Smitaben N.Shah 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.


January 1, 2010


For full copy of order against MR.DEVEN PATEL, MR.TEJAS PATEL AND MS.SMITABEN N.SHAH click here.