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NOTICES
Notice No.   20211125-58   Notice Date   25 Nov 2021
Category   Compliance   Segment   General
Subject   Final Order in the matter of ARSS Infrastructure Projects Limited
Attachments   Final Order in the matter of ARSS Infrastructure Projects Limited.pdf ;
Content

To

 

All Trading Members of the Exchange

 

Sub: FINAL ORDER Under Sections 11(1), 11(4), 11(4A),11A, 11B (1), 11B(2) and 15I of the Securities and Exchange Board of India Act, 1992 read with Rule 5 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 and Sections 12A(1), 12A(2) and 23I of Securities Contracts (Regulations) Act, 1956 read with Rule 5 of the Securities Contracts (Regulation) (Procedure for Holding Inquiry and Imposing Penalties) Rules, 2005. In the matter of ARSS Infrastructure Projects Limited

 

SEBI vide its order no. WTM/AB/IVD/ID19/14342/2021-22 dated November 25, 2021 has inter-alia issued following directions:

 

  • The Noticee no. 1 (ARSS Infrastructure Projects Limited), Noticee no. 2 (Mr. Subash Agarwal), Noticee no. 3 (Mr. Rajesh Agarwal) and Noticee no. 8 (Mr. Soumendra Keshari Pattanaik) are restrained from accessing the securities market and further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly, or being associated with the securities market in any manner, whatsoever, for a period of one (1) year, from the date of coming into force of this order.

 

  • The Noticee no. 4 (Mr. Swarup Chandra Parija), Noticee no. 5 (Ms. Rima Dhawan) and Noticee no. 6 (Mr. Krishna Chandra Raut), are restrained from accessing the securities market and further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly, or being associated with the securities market in any manner, whatsoever, for a period of six (6) months, from the date of coming into force of this order.

 

  • The proceedings against Noticee no. 7 is disposed of for reasons stated in para 33 above.

 

·        The obligation of the Noticees, restrained/prohibited by this 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, are allowed to be discharged irrespective of the restraint/prohibition imposed by this Order. Further, all open positions, if any, of the Noticees, restrained/prohibited in the present Order, in the F&O segment of the recognized stock exchange(s), are permitted to be squared off, irrespective of the restraint/prohibition imposed by this Order.

 

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: November 25, 2021