PRESS RELEASE - SEBI

March 13, 2014
PR No. 024/2014

Order in the matter of P G Electroplast Limited and its Promoter Directors Mr. Promod Gupta, Mr.
Anurag Gupta, Mr. Vishal Gupta and Mr. Vikas Gupta

Shri S. Raman, Whole Time Member, SEBI, has vide order dated March 11, 2014 passed the followng directions:-

(i) P. G. Electroplast Limited and its Promoter Directors, viz. Mr. Promod Gupta, Mr. Anurag Gupta, Mr.Vishal Gupta and Mr. Vikas Gupta are prohibited from raising any further capital from the securities market, in any manner whatsoever, for a period of ten years.
(ii) P. G. Electroplast Limited and its abovementioned Promoter Directors, viz. Mr. Promod Gupta, Mr. Anurag Gupta, Mr. Vishal Gupta and Mr. Vikas Gupta are prohibited from buying, selling or dealing in the securities market, in any manner whatsoever, for a period of ten years.
(iii) The period of prohibition already undergone by P. G. Electroplast Limited and its Promoter Directors pursuant to the Interim Order dated December 28, 2011, shall be taken into account for the purpose of computing the period of prohibition imposed in this Order.
(iv) P. G. Electroplast Limited is also directed to take urgent and effective measures to recover all the moneys recoverable on account of investments in ICDs, contracts for purchase of land which have not fructified till now, etc. Progress in this regard shall be reported to SEBI on or before May 10, 2014, on the basis of which further directions shall be considered. 

The Order shall come into force with immediate effect.

Mumbai

March 13, 2014


 

For full copy of order against P G ELECTROPLAST LTD., MR.PROMOD GUPTA, MR.ANURAG GUPTA, MR.VISHAL GUPTA and MR.VIKAS GUPTA, click here.