sebi:WTM/AS/IVD/ID3/29814/2023-24
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Facts / Headnote
Directions issued vide the interim orders qua the Entities revoked with immediate effect
Provisions invoked
- s. 19
Holding
The interim directions issued against the Entities are revoked with immediate effect, as the investigation revealed no adverse findings against them sufficient to sustain the continuance of such directions.
Full text
Page 2 of 2 3. Pursuant to the same, a detailed investigation was carried out by SEBI to look into the role of the debarred entities in the matter of dealings in the shares of the above mentioned four scrips.
4. I note that the directions issued against the Entities vide the interim orders, were interim in nature and were issued on the basis of prima facie findings. SEBI had issued directions vide the interim orders in order to protect the interests of investors in the securities market. Upon completion of the aforesaid investigation, no adverse observation/finding has been found against these Entities, so as to sustain the continuance of the directions issued vide the interim orders and thus, the said
directions need not be continued. 5. In view of the same, I, in exercise of the powers conferred upon me under Section 19 read with Sections 11, 11(4) and 11B of the SEBI Act, hereby, revoke the directions issued vide the interim orders qua the Entities with immediate effect.
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Source: SecMarx — sebi:WTM/AS/IVD/ID3/29814/2023-24. 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.