To
All Trading Members of the Exchanges
Sub: Final Order in the matter of CG Power and Industrial Solutions Limited.
In continuation to the Exchange Notice No. 20190917-37 dated September 17, 2019, on the captioned matter.
SEBI vide its order no WTM/AB/CFID/CFID_1/20149/2022-23 dated October 04, 2022, has inter-alia issued following directions:
- The Noticees no. 1, 2, 3 and 4 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 five (5) years, from the date of coming into force of this order.
- The Noticees no. 5, 6 and 7 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 three (3) years and six (6) months, from the date of coming into force of this order.
- The period of debarment already undergone by the Noticees by virtue of Interim Order dated September 17, 2019, shall be set-off from the period of debarment as directed herein above in sub-paras (i) and (ii).
- 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 recognised 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 Vinayak Bhalavi
Regulatory Correspondence Regulatory Correspondence
Date: October 04, 2022 |