sebi:WTM/MPB/EFD-1-DRA-I/69/2019
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Facts / Headnote
Directions issued vide interim order dated September 21, 2017 as confirmed vide order dated February 08, 2018 revoked qua four named promoter entities with immediate effect; directions continued against remaining entities
Provisions invoked
- s. 19
Parties
- Indian Infotech & Software Limited
- Jayanti Prime Software Advisory Private Limited
- Mahamaya Financial Consultants Private Limited
- Generosity Share Trading Private Limited
- Dhanvarsha Advisory Services Private Limited
Holding
The directions issued vide interim order dated September 21, 2017 as confirmed vide order dated February 08, 2018 are revoked with immediate effect qua the four named promoter entities. The directions continue against the remaining entities in the matter of IISL.
Full text
Order in the matter of Indian Infotech & Software Limited Page 2 of 4 audit, if necessary. The measures also envisaged, on final determination, delisting of companies from the stock exchange, if warranted. By virtue of these measures, trading in the scrip was not suspended but allowed under strict monitoring so that investors could take informed investment decisions, till SEBI and Exchanges completed their detailed examination of such companies.
Order in the matter of Indian Infotech & Software Limited Page 3 of 4 4. SEBI vide order dated February 08, 2018 (hereinafter referred to as “Confirmatory
Order in the matter of Indian Infotech & Software Limited Page 4 of 4 8. 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, 11(4) and 11B of the SEBI Act, hereby revoke the directions issued vide interim order dated September 21, 2017 and confirmatory order dated February 08, 2018 qua below mentioned promoter entities with immediate effect:
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Source: SecMarx — sebi:WTM/MPB/EFD-1-DRA-I/69/2019. 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.