PR No. 145/2010
Order against Dr. Mahendra C. Shah and Mrs. Hasu M. Shah in the matter of Karuna Cables Limited (now known as Globus Corporation Limited)
Dr. K. M. Abraham, Whole Time Member, SEBI, has passed an order dated June 24, 2010, in the matter of Karuna Cables Ltd., restraining Dr. Mahendra C. Shah and Mrs Hasu M. Shah from accessing the securities market and prohibit them from buying, selling or dealing in the securities market, including in Initial Public Offerings, in any manner, either directly or indirectly, till further directions. It has also been directed that Dr. Mahendra C. Shah shall not hold any managerial position (including directorship) or any other key position in any listed company in India, or an intermediary registered with the Securities and Exchange Board of India or with any securities market participant, in any capacity, till further orders.
It is further directed that a copy of this Order shall also be forwarded to Bar Council of Maharashtra and Goa with a copy to the Bar Council of India, for appropriate action against Mr. Prakash K. Shah, Advocate, as may be deemed fit, with a request to furnish a copy of their action on this reference to the Securities and Exchange Board of India.
June 24, 2010