sebi:WTM/KMA/OIAE/333/12/2010
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Facts / Headnote
Rane Computers Consultancy Limited and its directors Mr. Adi Meherji Sethana, Mr. Rane Ujwala Dinesh, Mr. M. C. Jayaraman and Mr. Rane Dinesh Anant restrained from accessing the securities market and prohibited from buying, selling or otherwise dealing in securities till all pending investor grievances are resolved and confirmed by SEBI; show cause notices dated November 11, 2009 against Mr. Jagmohan Grover, Mr. Vora Haribhai Vora and Mr. Mohan Laxman Kaktikar disposed off without any directions.
Provisions invoked
- s. 11B
- s. 19
Parties
- Rane Computers Consultancy Limited
- Mr. Adi Meherji Sethana
- Mr. Mohan Laxman Kaktikar
- Mr. Vora Haribhai Vora
- Mr. Rane Ujwala Dinesh
- Mr. M. C. Jayaraman
- Dr. Jagmohan Grover
- Mr. Rane Dinesh Anant
Holding
Rane Computers Consultancy Limited and its directors Mr. Adi Meherji Sethana, Mr. Rane Ujwala Dinesh, Mr. M. C. Jayaraman and Mr. Rane Dinesh Anant were restrained from accessing the securities market and prohibited from dealing in securities until all pending investor grievances are resolved and confirmed by SEBI, while the show cause notices against Mr. Jagmohan Grover, Mr. Vora Haribhai Vora and Mr. Mohan Laxman Kaktikar were disposed of without directions.
Full text
Page 2 of 4 SEBI (www.sebi.gov.in) advising the Company to resolve the pending investor grievances and to submit the Action Taken Report. Despite such steps, SEBI had not received any response from the Company or its directors.
Page 3 of 4 received from the directors to whom it was delivered, a paper publication was made by SEBI on June 13, 2010, in respect of the said show cause notice and hearing in various newspapers having nationwide and statewide circulation including ‘Hindustan Times’ (Mumbai, New Delhi & Kolkata Edition) ‘Sandesh’ (Rajkot Edition) and ‘Gujarat Samachar’ (Vadodara Edition). Despite taking all possible measures, neither the Company nor the aforesaid directors attended the said hearing on August 5, 2010.
Page 4 of 4 the Company in redressing the investor complaints, as alleged in the show cause notices. In view of the above, I find it appropriate to pass necessary direction against the Company and its directors, Mr. Adi Meherji Sethana, Mr. Rane Ujwala Dinesh, Mr. M. C. Jayaraman and Mr. Rane Dinesh Anant who are in charge and responsible for the affairs of the Company for their failure to redress the grievances of the investors.
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Source: SecMarx — sebi:WTM/KMA/OIAE/333/12/2010. 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.