Order in the Matter of Initial Public Offer of Sudar Industries Limited

• Notice No: 20210420-34
• Notice Date: 20 Apr 2021
• Category: Compliance
• Segment: General

To

All Trading Members of the Exchange 

Sub: ORDER Under Sections 11(1), 11(4), 11A and 11B of Securities and Exchange Board of India Act, 1992 In the Matter of Initial Public Offer of Sudar Industries Limited.

SEBI vide its order no. WTM/GM/ EFD 1 – DRA 4/02 /2021-22 dated April 20, 2021 has inter-alia issued following directions:

• The SCN in respect of Noticee No.1 (Sudar Industries Limited) is disposed of considering the liquidation status of the said Company.

·         Noticee No. 2 (Murugan Muthiah Thevar) and Noticee No. 3 (Deepak Shenoy) 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 7 years.

• Noticee No. 4 (Gopi Chellappan Nair), Noticee No. 5 (Sridhar Shetty), Noticee No. 6 (Venkatraman Gopal Nadar), Noticee No. 7 (M S Anand) and Noticee No. 8 (Sapna Karmokar) 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 5 years.

• Noticee No. 11 (Ramesh Andy Thevar), Noticee No. 12 (Edwin Joseph), Noticee No. 13 (Reena Nadar), Noticee No. 14 (Santosh Ingle), Noticee No. 15 (Valliammal Murugan Thevar), Noticee No. 16 (Kamlesh Muthappa Nadar), Noticee No. 17 (Stalin Muthappa) and Noticee No. 18 (B Ravishankar Pai) 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 4 years.

• Noticee Nos. 9 and 10 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

This Order is effective from the date of the order. 

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.

Jeevan Noronha                                                                                          Roshani More          

Senior Manager                                                                                           Assistant Manager  

Surveillance                                                                                                  Surveillance

Date: April 20, 2021