To
All Trading Members of the Exchange
Sub: Order under Sections 11, 11B and 11(4) of the Securities and Exchange Board of India Act, 1992 read with Regulation 11 of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 in the matter of KGN Enterprises Limited (KGN), Gemstone Investments Limited (Gemstone) and Polytex India Limited (Polytex)
Attention of the trading members is invited to the Exchange Notice No. 20140107-25 dated January 07, 2014 confirming the directions issued by SEBI vide its Order no. WTM/ RKA/ISD/21/2013 dated May 10, 2013 (issued vide Exchange Notice No. 20130510-28 dated May 10, 2013) had inter-alia restrained various entities from buying, selling or dealing in the securities markets, either directly or indirectly, in any manner, till further directions.
SEBI now, vide its Order no. WTM/GM/EFD/86/2018-19 dated January 31, 2019 has inter-alia issued the following directions:
1. Restrained the following entities 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, from the date of this order, for the period as mentioned besides each of the entities.
|
Name
|
PAN
|
Period
|
|
Jatin Shah
|
AACPS6128D
|
5 year
|
|
Bhavesh Pabari
|
AKGPP8679N
|
7 Year
|
|
Hemant Sheth
|
ANOPS8607E
|
7 Year
|
|
Prem Parikh
|
ALHPP3489N
|
7 Year
|
|
Ankit Sanchaniya
|
BLNPS3316L
|
7 Year
|
2. As stated in the aforesaid order, the following entities have already undergone debarment for a period of more than 5 years from the date of the interim order. It was also stated that it did not deem fit to pass any directions for debarment against the following entities, subject to disgorgement as mentioned in the said order.
|
Sr No
|
Name
|
Pan
|
|
1
|
Jigar Praful Ghoghari
|
ASFPG8598L
|
|
2
|
Kiran Bhiku Bhanaes
|
AQUPB0853G
|
|
3
|
Janak Chimanlal Dave
|
AEPPD9110D
|
|
4
|
Dilipkumar Pukhraj Jain
|
AACPJ5643C
|
|
5
|
Bhupesh Harishchandra Rathod
|
AACPR3785K
|
|
6
|
Kishan Balaram Shigvan
|
BAWPS1264D
|
|
7
|
Kiran Madhusudan Sheth
|
ALJPS1874Q
|
|
8
|
Shree Shagun Financial Services
|
ABTFS0352F
|
|
9
|
Oliwonders Financial Services Pvt Ltd
|
AABCO2030J
|
|
10
|
Neevan Capial Markets Private Limited
|
AACCN7650G
|
|
11
|
Jinal Apurva Rawal
|
ATHPR5041C
|
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.
Shaila Valsan Avijit Sarkar
Manager Assistant Manager
Surveillance Surveillance
Date: January 31, 2019
|