To
All Trading Members of the Exchange
Sub: Order under Section 11(4) and Section 11B of The SEBI Act read with regulation 11 of The Securities And Exchange Board Of India (Prohibition Of Fraudulent And Unfair Trade Practices Relating To Securities Market) Regulations, 2003 and Section 12A of Securities Contract (Regulations) Act, 1956. in the matter of Jaybharat Textiles and Real Estate Limited and KSL and Industries Limited.
Attention of the trading members is invited to the Exchange Notice No. 20070907-11 dated September 07, 2007, had inter alia directed certain entities not to buy sell or deal in shares of KSL & Industries Ltd and Jaybharat Textile and Real Estate Ltd till further directions and Exchange Notice No. 20100312-34 dated March 12, 2010 where in SEBI vide its an ad interim ex-parte order no. WTM/KMA/ISD/ 239/03/2010 dated March 12, 2010 had, inter-alia, restrained Jaybharat Textile and Real Estate Ltd and various entities from accessing the securities market and further prohibited it from buying, selling or dealing in shares directly or indirectly in any manner whatsoever, till further orders.
SEBI now vide its Order no. WTM/GM/EFD/ 84 /2018–19 dated January 10, 2019 has inter-alia issued the following directions:
· The set of entities as mentioned in annexure 1 who were restrained from buying, selling or dealing in the shares of Jaybharat Textiles and KSL directly or indirectly, in any manner (vide the Ad–Interim Ex–Parte Order dated September 7, 2007), are hereby restrained from accessing the securities market and are further prohibited from buying, selling or otherwise dealing in securities in any manner whatsoever, either directly or indirectly, for a period of 2 years from the date of this Order.
· The set of entities as mentioned in annexure 2 are hereby restrained from accessing the securities market and are further prohibited from buying, selling or otherwise dealing in securities in any manner whatsoever, either directly or indirectly, for a period of 2 years from the date of this Order.
· Further it is also stated in the aforesaid Order that Jaybharat Textiles was restrained from accessing the securities market vide the Ad–Interim Ex–Parte Order dated March 12, 2010. It is also noted vide the aforementioned Ad–Interim Ex–Parte Order, the set of entities as mentioned in annexure 3 were prohibited from buying, selling or dealing in securities, directly or indirectly, in any manner whatsoever vide the aforementioned Ad–Interim Ex–Parte Order (The entity Nitish Nayak, was earlier restrained from buying, selling or dealing in the shares of Jaybharat Textiles and KSL directly or indirectly, in any manner vide the Ad–Interim Ex–Parte Order dated September 7, 2007). It is noted that the aforementioned directions have continued against the entities for a period of more than 8 years and hence do not find it to pass any further directions against the set of entities as mentioned in annexure 3.
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: January 10, 2019
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