January 11, 2010
PR No. 007/2010

Consent order in the matter of M/s. Nissan Copper Limited

A Panel consisting of Whole Time Members, SEBI, Shri M.S.Sahoo and Dr. K.M.Abraham has passed consent order dated January 08, 2010 on application submitted by Forney Funds Advisors Private Limited and R.K.Goyal in the matter of M/s. Nissan Copper Limited alleged to be involved in Fraudulent and Unfair Trade Practices relating to Securities Market.
SEBI vide order No. WTM/GA/122/ISD/01/07 dated January 17, 2007 had directed the Exchanges to withhold an amount of Rs.1,06,42,404/- (Rupees one crore six lakh forty two thousand four hundred and four only) as profits/gains of the applicant. The applicant has agreed to pay Rs.1,00,21,628/- (Rupees one crore twenty one thousand six hundred and twenty eight only) together with interest accrued on the withheld amount and 20% of Rs.1,00,21,628/- as settlement charges. The total amount of consent works out to Rs. 1,20,25,953/- (One crore twenty lakh twenty five thousand nine hundred and fifty three only) plus the interest accrued on the withheld amount of the applicant.


January 11, 2010


For full copy of order against FORNEY FUNDS ADVISORS PVT. LTD. AND R.K.GOYAL click here.