sebi:WTM/KMA/IVD/98/07/2009
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Facts / Headnote
Ex-parte interim order dated April 23, 2009 confirmed against KCSPL; interim directions continued pending completion of investigation
Provisions invoked
- s. 11
- s. 11(4)
- s. 19
- s. 11B
- s. 12
- s. 11A
- s. 15I
- s. 12(3)
Regulations
- Reg. 11
Parties
- Kotecha Capital Services Private Limited
Holding
The Whole Time Member confirmed the ex-parte interim order dated April 23, 2009 against Kotecha Capital Services Private Limited (KCSPL), continuing the restraint on dealing in securities pending completion of investigation. The Member held that KCSPL is a 'person associated with the securities market' and that the corporate veil could be lifted as KCSPL was controlled by Mr. Nirmal Kotecha.
Full text
Page 2 of 21 from the date of the said order and, if they so desire, avail of an opportunity of personal hearing. 2. KCSPL, vide letter dated May 15, 2009 submitted its objections to the said interim order of SEBI. While denying the allegations made against it in the said order, it inter alia submitted the following:
Page 3 of 21 Securities Market) Regulations, 2003 (hereinafter referred to as the PFUTP Regulations) Regulations and that therefore the
Page 4 of 21 4. Thereafter, an opportunity of personal hearing was afforded to it on July 01, 2009. In the meanwhile, KCSPL filed an appeal against the ad interim ex-parte
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Source: SecMarx — sebi:WTM/KMA/IVD/98/07/2009. 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.