sebi:CO/164/IMD/10/2003
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Facts / Headnote
Directions issued debarring the company and its directors from the securities market for 5 years
Provisions invoked
- s. 11B
- s. 11(1)
Parties
- Dharnendra Overseas Ltd
- Mr. Navinchandra B. Gandhi
- Mr. Suchil M. Kothari
- Mr. Bhupendra B. Gandhi
- Mr. Arvind J. Shah
Holding
Dharnendra Overseas Ltd and its directors namely Mr. Navinchandra B. Gandhi, Mr. Suchil M. Kothari, Mr. Bhupendra B. Gandhi and Mr. Arvind J. Shah shall dissociate themselves from the securities market for 5 years and shall not deal in securities in any manner whatsoever for 5 years.
Full text
b) The company and its directors would be debarred from dealing in and/or accessing the capital market for a period of 5 years.
This order shall come into force immediately. G.N. BAJPAI Place : Mumbai CHAIRMAN Date : 10th Oct, 2003 SECURITIES AND EXCHANGE BOARD OF INDIA
4.0 The company failed to redress the grievances of investors within the time specified in the order dated 14.10.2002. Subsequently, though it was not required to do so, SEBI vide letter dated 9.5.2003, granted an opportunity 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.
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Source: SecMarx — sebi:CO/164/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.