sebi:WTM/PS/50/IVD/ID-4/JAN/2012
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Facts / Headnote
Interim directions revoked against 18 named entities; restrictions against other entities continue
Provisions invoked
- s. 11B
- s. 19
- s. 12A
Regulations
- Reg. 7
- Reg. 3(a)
- Reg. 13(4)
Holding
SEBI revoked the ad interim ex-parte directions dated September 30, 2004 as confirmed on February 18, 2005 against the 18 named entities after investigations found no adverse findings warranting action.
Full text
Page 2 of 4 3. Pursuant to the completion of investigations in all the three scrips, I note that there are no adverse findings and hence no action is recommended in relation to the following entities: Sl. No. Name of Entity i. Reshma Plastics Pvt. Ltd.- – major shareholder, Kolar Biotech Ltd. ii. RVSK Information Technology Ltd.- major shareholder, Adams Comsof Ltd iii. Glorious Investrade P. Ltd. - major shareholder, Adams Comsof Ltd iv. Sh. Pradeep Rathi – Promoter, Adam Comsof Ltd v. Sh. Indramal S. Jain - Promoter, Adam Comsof Ltd. vi. Sh. Nazir N. Desai - Promoter, Kolar Biotech Ltd. vii. Sh. Maqbool A.G. Matwankar - Promoter, Kolar Biotech Ltd viii. Sh. Kiran Bansal - Major selling client ix. Steel Traders P Ltd. - Major selling client x. M/s Shree Satyanand Investments (Shyam Sunder Jhunjhunwala) - Major selling client xi. M/s Subhlaxmi (Ramkishore Jhujhunwala) - Major selling client xii. Suvik Finvest & Cons P Ltd. - Major selling client xiii. Sh. Pushpa Mahadik – Director, Kolar Biotech Ltd. xiv. Sh. Prithvijit Debnath – Director, Kolar Biotech Ltd. xv. Sh. Anil Bhaskar Tambe – Director, Kolar Biotech Ltd. xvi. Sh. Jayendra Pragji Thakkar – Director, Kolar Biotech Ltd. xvii. Sh Nirmal N Kotecha - Major selling client
Page 3 of 4 Market) Regulations, 2003, Regulation 7(1A) of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997, Regulation 13(4) of the SEBI (Prohibition of Insider Trading) Regulations, 1992 and Clause 15.1.6 of the SEBI (Disclosure and Investor Protection) Guidelines, 2000. I also note that, with respect to the dealings of Manorama Trading Ltd. in the scrips of ACL and KBL, there are no adverse
Page 4 of 4 xiii. Sh. Pushpa Mahadik – Director, Kolar Biotech Ltd. xiv. Sh. Prithvijit Debnath – Director, Kolar Biotech Ltd. xv. Sh. Anil Bhaskar Tambe – Director, Kolar Biotech Ltd. xvi. Sh. Jayendra Pragji Thakkar – Director, Kolar Biotech Ltd. xvii. Sh Nirmal N Kotecha - Major selling client xviii. Manorama Trading Ltd - Promoter, Kolar Biotech Ltd
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Source: SecMarx — sebi:WTM/PS/50/IVD/ID-4/JAN/2012. 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.