| Order in the matter of GMS Infrastructure Limited. (GMS) |
To
All Trading Members of the Exchange
Sub: Order Under sections 11(1), 11(4), 11A and 11B of the Securities and Exchange Board of India Act,1992, in the matter of GMS Infrastructure Limited. (GMS)
Attention of the trading members is invited to the Exchange Notice No. 20180223-52 dated 23rd February 2018 wherein SEBI, vide its Order no. WTM/GM/IMD/93/2017–18 dated February 23, 2018, had inter-alia directed GMS and its Directors/Promoters not to access the securities market or buy, sell or otherwise deal in the securities market, either directly or indirectly, or associate themselves with any listed company or company intending to raise money from the public.
SEBI, now vide its Order no. WTM/AB/EFD-1/DRA-1V/05/ 2018-19 dated December 07, 2018 has inter-alia issued the following directions:
· Directed GMS, Ashim Mitra, Sanjoy Mitra (PAN - AHKPM6164A), Lopamudra Bandyapadhyay, Biswajit Das, Dinesh Chowhan, Chandan Biswas and Rajesh Singh, 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 four years from the date of completion of refunds to investors as directed in the aforesaid order.
· It is also mentioned in the aforesaid order that the said entities are prevented from selling their assets, properties and holding of mutual funds/shares/securities held by them in demat and physical form except for the sole purpose of making the refunds as directed in the order.
· Directed Soumen Paul, Aparna Roy Chowdhury, Mina Mukherjee, Gita Karmakar (PAN - BCLPK7391E) and GMS Multi Marketing Services Pvt. Limited, presently known as ADB Food Products Pvt. Limited 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, for a period of four years.
· Further, it may be noted that vide the interim order dated February 23, 2018, the aforesaid noticees were directed not to access the securities market or buy, sell or otherwise deal in the securities market, either directly or indirectly, or associate themselves with any listed company or company intending to raise money from the public. In this connection, the aforesaid five noticees have already undergone prohibition for more than 9 months. Hence, the prohibition already undergone by the said five noticees pursuant to the interim order shall be adjusted while computing the period in respect of prohibition imposed vide this order.
· The directions against Tumpa Mitra Dutta and Shib Shankar Ghosh in the interim order are hereby revoked.
This Order shall come into force with immediate effect.
A copy of the said Order is attached herewith and also available on the SEBI website www.sebi.gov.in.
Trading members are advised to take note of the same and ensure compliance.
Ena Janvalekar Shaila Valsan
Sr. Manager Manager
Surveillance Surveillance
Date: December 07, 2018
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