| Order in the matter of Midvalley Entertainment Limited. |
To
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 Re: SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2003 and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 in the matter of Midvalley Entertainment Limited.
SEBI vide its order no. WTM/MPB/EFD-1-DRA-IV/ 104 /2020 dated February 18, 2020 has inter-alia issued following directions:
- MVEL, Sudhir Kumar Jena, K Murugavel, Vasan Chidambaram and K Ramdasan are hereby restrained from accessing the securities market for a period of Seven years from the date of this order and are further prohibited 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 Seven years, from the date of this order. Further, Sudhir Kumar Jena, K Murugavel, Vasan Chidambaram and K Ramdasan are also restrained from being associated with any listed company or a SEBI registered intermediary, in any capacity including as a Director or key managerial person, directly or indirectly, for a period of Seven years from the date of this order.
- Datuk K Keetheeshwarn and R Chandrasekharan are hereby restrained from accessing the securities market for a period of five years from the date of this order and are further prohibited 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 five years, from the date of this order. Datuk K Keetheeshwarn and R Chandrasekharan are further restrained from being associated with any listed company or a SEBI registered intermediary, in any capacity including as a Director or key managerial person, directly or indirectly, for a period of five years.
- S Madhavan and M Pandiyan are hereby restrained from accessing the securities market for a period of two years from the date of this order and are further prohibited 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 two years, from the date of this order.
- Needless to say, in view of prohibition on sale of securities, it is clarified that during the period of restraint, the existing holding, including units of mutual funds, of the Noticees shall remain frozen.
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 Fahad Kapadia
Sr. Manager Assistant Manager
Surveillance Surveillance
Date: February 20, 2020
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