sebi:WTM/MSS/ISD/19/2009

SEBI · SEBI · 2009-09-22 · Whole Time Member (M. S. Sahoo)

This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.

Facts / Headnote

Stock exchanges directed to permit members to square off existing open F&O positions of three clients, with no fresh positions allowed.

Provisions invoked

• s. 11

Parties

• Mr. Hemant R. Patel
• Mr. Praveen Mohnot
• Mr. N. Ravichandran
• Ms. Priyanka Singhvi
• Ms. Anita Ravichandran

Holding

The three clients with open F&O positions as of September 22, 2009 are placed in 'square off mode' so they may only close existing positions, and stock exchanges are directed to permit such squaring off without allowing any fresh positions.

Full text

SECURITIES AND EXCHANGE BOARD OF INDIA, MUMBAI ORDER ADDENDUM TO THE ORDER Ref No: WTM/MSS/ISD/18/2009 DATED SEPTEMBER 22, 2009 IN THE MATTER OF KLG CAPITAL SERVICES LIMITED – DEALINGS BY MR. HEMANT R. PATEL, MR. PRAVEEN MOHNOT, MR. N. RAVICHANDRAN, MS. PRIYANKA SINGHVI, AND MS. ANITA RAVICHANDRAN.

Vide order Ref No: WTM/MSS/ISD/18/2009 dated September 22, 2009, Mr. Hemant R. Patel, Mr. Praveen Mohnot, Mr. N. Ravichandran, Ms. Priyanka Singhvi, and Ms. Anita Ravichandran are prohibited from buying, selling or dealing in securities market or access the securities market, directly or indirectly, in any manner whatsoever with immediate effect, for the period mentioned in the order.

As per data presented before me, it is observed that there are open positions in the F&O segment of Mr. Hemant R. Patel (PAN AAAHH2660D), Ms. Anita Ravichandran (PAN AAHPR0973N) and Mr. N. Ravichandran (PAN AABPN7069H), as at the end of trading on September 22, 2009 which need to be closed.

Source: SecMarx — sebi:WTM/MSS/ISD/19/2009. 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.