sebi:WTM/AB/MIRSD/NRO/04/2020-21

SEBI · SEBI · 2020-05-11 · Ananta Barua, Whole Time Member

This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.

Facts / Headnote

Representations dated May 27, 2020 and June 16, 2020 disposed of with partial relief: de-freezing of specified bank accounts, fixed deposits and bonds where Representors/Rakesh Kumar Gupta are first holders, transfer of half securities in PMS demat account and release of half mutual fund/AIF units in joint folios; request for de-freezing HDFC Bank account of Ankit Gupta and for full removal of freeze on joint demat/folios rejected

Parties

• Modex International Securities Limited
• Sharda Gupta

Holding

Bank accounts, fixed deposits and bonds held jointly with Noticee Sharda Gupta were de-frozen where the Representors/Rakesh Kumar Gupta are first holders, but joint demat accounts and joint mutual fund/AIF folios were not fully de-frozen; only half of securities/units were ordered to be transferred/released to the Representors/Rakesh Kumar Gupta.

Full text

Miscellaneous Order in the matter of Modex International Securities Limited Page 2 of 18 5. I have considered the representations made, interim order passed and the comments of NSE, as mentioned above. It is noted that in the interim order there is no adverse

Miscellaneous Order in the matter of Modex International Securities Limited Page 3 of 18 Ankit Gupta Axis Bank 040010100020044 Ankit Gupta AJZPG6768K Sharda Gupta Anuj Gupta Axis Bank 040010100020036 Anuj Gupta AGIPG2383C Sharda Gupta

Miscellaneous Order in the matter of Modex International Securities Limited Page 4 of 18 Mutual Fund Details: AMC Folio No.

Source: SecMarx — sebi:WTM/AB/MIRSD/NRO/04/2020-21. 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.