|Final Order in the matter of Moryo Industries Ltd
All Trading Members of the Exchange
Sub: Order under Sections 11, 11(4) and 11B of the Securities and Exchange Board of India Act, 1992 in the matter of Moryo Industries Limited.
Attention of the trading members is invited to Exchange notice no. 20141204-29 dated December 4, 2014 wherein SEBI vide its ex-parte ad-interim Order no. WTM/RKA/140/ISD/2014 dated December 04, 2014 has, inter-alia, restrained various entities from buying, selling or dealing in the securities markets, either directly or indirectly, in any manner, till further directions.
Further, SEBI has also issued confirmatory Orders dated March 18, 2016 (issued vide Exchnage Notice no. 20160318-42 dated March 18, 2016) and dated August 22 2016 (issued vide Exchange Notice No. 20160823-28 dated August 23, 2016).
Further, SEBI vide its Order no. SEBI/WTM/MPB/EFD-1-DRA-IV/32 /2017 dated September 21, 2017 hereby, revoked the confirmatory Orders dated March 18, 2016 and August 22, 2016 qua 85 entities.
SEBI now, vide its Order no. WTM/AB/EFD-1/DRA-4/26/ 2018-19 dated March 19, 2019 has inter-alia issued following directions:
- Restrained the entities viz. Badri Lal Birla (PAN – ABDPB7183R) and Chandrakanta Laddha (PAN – ABIPL0665K) from accessing the securities market and are further prohibited from buying, selling or otherwise dealing in securities (including units of mutual funds), directly or indirectly, or being associated with the securities market in any manner, whatsoever, for a period of five years from the date of this order. During the period of restraint, the existing holding (including units of mutual funds) of the said Noticees shall remain frozen.
· It is also mentioned in the aforesaid Order that vide interim order dated December 04, 2014, the entities viz. Moryo Industries Ltd. (PAN – AACCM5166G), Manoharlal Saraf (PAN – AAIPS7577C) and Geeta Manoharlal Saraf (PAN – ANMPS6842B) were directed not to access 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. In this connection, SEBI has noted that as the aforesaid Noticees have already undergone prohibition for a period of more than 4 years and three months, which SEBI finds to be sufficient for the violations committed by them.
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 Fahad Kapadia
Manager Assistant Manager
Date: March 19, 2019