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NOTICES
Notice No.   20210504-23   Notice Date   04 May 2021
Category   Compliance   Segment   General
Subject   Order in the matter of Aakruti Nirmiti Limited
Attachments   Final order in the matter of Aakruti Nirmiti Ltd.pdf ;
Content

To

 

All Trading Members of the Exchange

 

Sub:  Final Order Under Sections 11, 11(4), 11A and 11B (1) of the Securities and Exchange Board of India Act, 1992 In the matter of Aakruti Nirmiti Limited.

 

SEBI vide its order no. WTM/MPB/EFD-1-DRA-IV/189/2021 dated May 03, 2021 has inter-alia issued following directions:

 

  • Aakruti is directed not to, directly or indirectly, access the securities market, by issuing prospectus, offer document or advertisement soliciting money from the public and are further restrained and prohibited from buying, selling or otherwise dealing in the securities market, directly or indirectly in whatsoever manner, from the date of this Order, till the expiry of 1 (one) year from the date of completion of refunds to investors as directed in the order.
  • Mr. Manilal V Patel and Mr. Vithal S Patel are restrained and prohibited from buying, selling or otherwise dealing in the securities market, directly or indirectly in whatsoever manner, from the date of this Order, till the expiry of 1 (one) year from the date of completion of refunds to investors as directed in the order.
  • Ms. Anita Pirgal, Mr. Sunil Naik and Mr. Shailendra Jhallawar are restrained and prohibited from buying, selling or otherwise dealing in the securities market, directly or indirectly in whatsoever manner for a period of six months from the date of this Order.
  • Manilal V Patel (HUF), Vithal S Patel (HUF), Mahesh N Patel (HUF), Vinesh S Patel (HUF), Shantilal K Patel (HUF), Hiralal Rangani (HUF), Aakruti Concepts Pvt Ltd, Shri Vishvadeep Harilal Patel, Smt. Rekha Mahesh Patel, Smt. Neeta Shantilal Patel, Smt. Madhu Manilal Patel, Smt. Ramila Vinesh Patel, Smt. Rachna Vithal Patel and Shri Dharmishth Harilal Patel are restrained and prohibited from buying, selling or otherwise dealing in the securities market, directly or indirectly in whatsoever manner for a period of six months from the date of this Order.
  • Needless to say, in view of prohibition on sale of securities, it is clarified that during the period of restraint, the existing holding, including units of mutual funds, of the Noticee Nos. 1 to 20 shall remain frozen.

This Order is effective from the date of the order.

 

A copy of the said Order is attached herewith and available on the SEBI website www.sebi.gov.in.

 

Trading members are advised to take note of the same and ensure compliance.

 

 

 

Jeevan Noronha                                                                                          Fahad Kapadia

Senior Manager                                                                                           Assistant Manager 

Surveillance                                                                                                  Surveillance

 

Date: May 04, 2021