sebi:CO/161/IMD/10/2003

SEBI · SEBI · 2002-10-14 · G.N. Bajpai, Chairman

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Facts / Headnote

Alpine Industries Ltd. and its six named directors directed to dissociate from the securities market and not deal in securities in any manner for 5 years

Provisions invoked

Parties

Holding

Alpine Industries Ltd. and its directors viz. Ranjit Vithaldas, Jamboo G. Bhandari, Dilip Udeshi, P.N. Devarajan, Satish G. Bhandari and M.A. Menon shall dissociate from the securities market and not deal in securities for 5 years for failure to redress investor grievances.

Full text

4.0             The company failed to redress the grievances of investors within the time specified in the order dated 14.10.2002.  The company vide letter dated 14.10.2002 submitted that they had not received any show cause notice and that they have suitably sorted out all pending grievances. Subsequently, though it was not required to do so, SEBI vide letter dated 9.5.2003, granted an opportunity to the company to be heard before me. The hearing was fixed for 31.5.2003; however the company failed to appear before me and make submissions in this regard.

G.N. BAJPAI Place :  Mumbai                                                                                         CHAIRMAN Date :   10th Oct, 2003         SECURITIES AND EXCHANGE BOARD OF INDIA

5.0             I have considered the facts of the matter and material on record. I note that adequate opportunity has been granted to the company to appear before me and make submissions. However, they have chosen not to do so. Therefore, I proceed with the matter.

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Source: SecMarx — sebi:CO/161/IMD/10/2003. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.