sebi:WTM/KMA/IVD/374/032011
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Facts / Headnote
Interim directions revoked with immediate effect
Provisions invoked
- s. 19
Parties
- Mrs. Leela Surana R
- M/s. Surana Capital Markets
- Mr. Bhupendra Singh Rathore
- Mr. Rajesh Kumar Vyas
- M/s Mahasagar Securities
Holding
The ad interim ex-parte directions dated December 1, 2009, confirmed on March 25, 2010 and November 9, 2010, against Mrs. Leela Surana R, M/s. Surana Capital Markets, Mr. Bhupendra Singh Rathore, Mr. Rajesh Kumar Vyas and M/s Mahasagar Securities in the matter of Kwality Dairy India Limited were revoked with immediate effect.
Full text
Page 2 of 2 Mr. Bhupendra Singh Rathore, Mr. Rajesh Kumar Vyas and M/s Mahasagar Securities. It was stated in the aforesaid orders that the investigation in the matter is not yet concluded and the same is going on and that their alleged role or involvement in the manipulation would be reviewed after the conclusion of the investigation in the matter. I note that SEBI had completed the investigation in the matter and initiated adjudication proceedings against the aforesaid persons/entities for the alleged violations. As the investigation in the matter has been completed and appropriate proceedings have been initiated and also since the circumstances which led to the issuance of the directions in the Order no longer exists, I am of the considered view that the interim directions issued vide the Order needs to be vacated.
3. In view of the foregoing, I, in exercise of the powers conferred upon me under Section 19 of the Securities and Exchange Board of India Act, 1992 read with Sections 11(4) and 11B thereof, hereby revoke the directions issued vide the ad
interim ex-parte Order dated December 1, 2009 and subsequently confirmed vide Orders dated March 25, 2010 and November 9, 2010 in the matter of Kwality Dairy India Limited against Mrs. Leela Surana R, M/s. Surana Capital Markets, Mr. Bhupendra Singh Rathore, Mr. Rajesh Kumar Vyas and M/s Mahasagar Securities, with immediate effect.
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Source: SecMarx — sebi:WTM/KMA/IVD/374/032011. 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.