sebi:WTM/GM/EFD/48A/2018-19
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Facts / Headnote
Addendum clarifying that the prohibition in the original order does not bar closing existing open F&O positions, while prohibiting any fresh positions; stock exchanges directed to ensure compliance.
Provisions invoked
- s. 11
Parties
- Inventure Growth and Securities Ltd.
- Nagji K Rita
- Virendra D Singh
- Kanji B Rita
- Vinod K Shah
- Pravin N Gala
- Arun N Joshi
- Srinivasaiyer Jambunathan
- Harshavardhan M Gajbhiye
- Ajay Khera
- Deepak M Vaishnav
- Arvind Gala
- Bhavi Gandhi
Holding
The addendum clarifies that the directions in the order dated August 06, 2018 do not prohibit Noticee No.1 (Inventure Growth and Securities Ltd) from closing its open F&O positions at the earliest without roll-over, while prohibiting the creation of any fresh positions.
Full text
SECURITIES AND EXCHANGE BOARD OF INDIA, MUMBAI ORDER ADDENDUM TO THE ORDER Ref No: WTM/GM/EFD/48/2018-19 DATED AUGUST 06, 2018 IN THE MATTER OF INVENTURE GROWTH AND SECURITIES LTD. (IGSL) Vide order Ref No: WTM/GM/EFD/48/2018-19 dated August 06, 2018, Inventure Growth and Securities Ltd, Nagji K Rita, Virendra D Singh, Kanji B Rita, Vinod K Shah, Pravin N Gala, Arun N Joshi, Srinivasaiyer Jambunathan, Harshavardhan M Gajbhiye, Ajay Khera, Deepak M Vaishnav, Arvind Gala and Bhavi Gandhi are inter alia prohibited from buying, selling or dealing in securities market or access the securities market, directly or indirectly, in any manner whatsoever with immediate effect, for the period mentioned in the order.
It is understood from records made available post the issuance of the aforesaid order that Noticee No.1 i.e. Inventure Growth and Securities Ltd was holding open positions in the F&O segment as at the end of trading on August 06, 2018 which need to be closed.
The directions issued vide the aforesaid order shall not prohibit them from closing their respective open position at the earliest in terms of the contract without any further roll-over. As per the directions of the order dated August 06, 2018, fresh positions shall not be allowed to be opened.
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Source: SecMarx — sebi:WTM/GM/EFD/48A/2018-19. 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.