To
All Trading Members of the Exchange
Sub: ORDER Under Sections 11, 11(4) and 11B of the Securities and Exchange Board of India Act, 1992 In the Matter of GDR Issue of Nakoda Limited.
SEBI vide its order no. WTM/GM/IVD/ID4/13687/2021-22 dated October 14, 2021 has inter-alia issued following directions:
- Noticee No. 2 (D.B. Jain), Noticee No.3 (B.G. Jain), Noticee and No.4 (S.K. Bhoan) shall be restrained from accessing the securities market, and further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly, and associating with the securities market in any manner, whatsoever, for a period of 3 years.
- Noticee No.5 (Arun Panchariya) shall be restrained from accessing the Indian securities market, and further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly, and associating with the securities market in any manner, whatsoever, for a period of 10 years.
- Noticee No. 6 (Mukesh Chauradiya) shall be restrained from accessing the Indian securities market, and further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly, and associating with the securities market in any manner, whatsoever, for a period of 3 years.
- Noticee No. 7 (Vintage FZE) shall be restrained from accessing the Indian securities market, and further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly, and associating with the securities market in any manner, whatsoever, for a period of 8 years.
- Noticee No. 8 (India Focus Cardinal Fund) shall be restrained from accessing the securities market, and further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly, and associating with the securities market in any manner, whatsoever, for a period of 8 years.
- Noticee No. 9 (EURAM Bank) shall be restrained from accessing the Indian securities market, and further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly, and associating with the securities market in any manner, whatsoever, for a period of 2 years.
- This Order shall come into force with immediate effect. The obligation of the Noticees debarred in the present Order, in respect of settlement of securities, if any, purchased or sold in the cash segment of the recognized stock exchange(s), as existing on the date of this Order, can take place irrespective of the restraint/ prohibition imposed by this Order, only in respect of pending unsettled transactions, if any. Further, all open positions, if any, of the Noticees debarred in the present Order, in the F&O segment of the Stock Exchanges, are permitted to be squared off, irrespective of the restraint/ prohibition imposed by this Order.
- The period of debarment as directed by way of this Order shall run concurrently in respect of any Noticee, as mentioned in para 8.1 above, who may already be undergoing any period of debarment with respect to the issue of GDRs.
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 Rohan Shetty
Asst.General Manager Assistant Manager
Regulatory Correspondence Surveillance
Date: October 14, 2021 |