sebi:WTM/MSS/127/ISD/08
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Facts / Headnote
Confirmed interim directions; Noticee restrained from buying, selling or dealing in securities until further orders
Holding
The directions in the ad interim ex-parte Order dated April 27, 2006 were confirmed, directing the Noticee not to buy, sell or deal in securities including initial public offers until further orders, subject to Para 8.
Full text
Confirmatory order IPO Page 2 of 3 show cause Notice, which provided the Noticee an opportunity to file its objections, if any, within 15 days from the date of the Order. It also provided the Noticee an opportunity of personal hearing as well as an opportunity to inspect the relevant documents.
Confirmatory order IPO Page 3 of 3 8. I understand that the said Order was passed pending completion of investigations. I am informed that the investigations in the matter are now complete. The findings of investigations should provide better clarity about the disagreement mentioned in Para 6 above. I, therefore, direct that the show cause notice, if any, arising from the investigations be issued at the earliest, but not later than 15 days from the date of this
3. I find that the Noticee filed its objections to the show cause Notice vide letter dated May 17, 2006. It availed the opportunity of inspection of documents on June 19, 2006. Further, SEBI, vide letter dated October 14, 2008, provided the Noticee an opportunity of personal hearing in the matter on November 04, 2008 at SEBI Office, Mumbai. The Noticee did not attend the personal hearing on the said date. In view of above, I now proceed to pass further directions pursuant to the ad interim ex-parte Order cited.
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Source: SecMarx — sebi:WTM/MSS/127/ISD/08. 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.