| Order in the matter of Satyam Computer Services Ltd |
To
All Trading Members of the Exchange
sub: Orders dated July 15, 2014 and September 10, 2015 and SAT orders dated May 12, 2017 and August 11, 2017 in the matter of Satyam Computer Services Ltd. (SCSL).
Attention of the trading members is invited to the Exchange Notice No. 20140715-21 dated July 15, 2014 wherein SEBI, vide its Order No. WTM/RKA/SRO/64-68/2014 dated July 15, 2014, had inter-alia restrained various entities from accessing the securities market and further prohibited them 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 14 years.
Further, SEBI, vide its Order No. WTM/RKA/EFD-SRO/108-117/2015 dated September 10, 2015, (issued vide Exchange notice no. 20150910-12 dated September 10, 2015) had inter-alia, restrained various entities including B.Suryanarayana Raju and SRSR Holdings Private Limited from accessing the securities market and further prohibited them 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 07 years.
SEBI, now vide its Order no. WTM/GM/EFD/ 74 / 2018-19 dated November 02, 2018 has inter-alia restrained B Ramalinga Raju (PAN: ACVPB8311J), B. Rama Raju (PAN: ACEPB2813Q) , B. Suryanarayana Raju (PAN: ACEPB2811N) and SRSR Holdings Pvt. Ltd. (PAN:N.A) from accessing the securities market and further prohibit them 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 14 years.
It is also clarified that the period of restraint already suffered by B Ramalinga Raju and B. Rama Raju since July 15, 2014 shall be taken into account for calculating the period of restraint now imposed. Similarly, the period of restraint already suffered by B. Suryanarayana Raju and SRSR Holdings Pvt. Ltd. since September 10, 2015 shall be taken into account for calculating the period of restraint now imposed.
Further, as stated in the aforesaid order, this Order shall come into effect from such date as the Hon'ble Supreme Court directs. Till such decision of the Hon'ble Supreme Court, the Noticees shall continue to abide by the directions of the Hon'ble SAT (in its order dated August 11, 2017) and the Noticees' undertakings submitted to the Hon'ble Supreme Court in the aforementioned Appeals, as mentioned in the said Order.
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 Asstant Manager
Surveillance Surveillance
Date: November 02, 2018
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