sebi:WTM/RKA/EFD/51/2015
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Facts / Headnote
Directions revoked
Provisions invoked
- s. 11B
- s. 19
Parties
- Varun Shipping Company Ltd.
- Mr. Yudhisthir Dilip Khatau
- Dr. A. K. Bhattacharya
- Mr. Khurshed M. Thananwalla
- Ms. Armin Fali Pardiwala
- Mr. Praveen Singh
Holding
The directions issued vide order dated April 24, 2015 against Varun Shipping Company Ltd. and its five directors are revoked.
Full text
SECURITIES AND EXCHANGE BOARD OF INDIA ORDER Under section 11B of the Securities and Exchange Board of India Act, 1992 in respect of (1)Varun Shipping Company Ltd., (2) Mr. Yudhisthir Dilip Khatau (PAN: AAHPK2447A), (3) Dr. A. K. Bhattacharya (PAN: ACVPB8943Q), (4) Mr. Khurshed M. Thananwalla (PAN: AABPT0235F), (5) Ms. Armin Fali Pardiwala (PAN: AGTPP6107E) and (6) Mr. Praveen Singh (PAN: AAEPS4413R). ________________________________________________________________________________
1. SEBI vide its order dated April 24, 2015 had directed Varun Shipping Company Ltd. and its directors viz. Mr. Yudhisthir Dilip Khatau, Dr. A. K. Bhattacharya, Mr. Khurshed M. Thananwalla, Ms. Armin Fali Pardiwala, and Mr. Praveen Singh to resolve total pending 90 investor complaints within 30 days from the date of the order, failing which, they would stand restrained and prohibited from accessing the securities market and from buying, selling or dealing in securities, directly or indirectly, in whatsoever manner, till all the investor grievances pending against Varun Shipping Company Ltd. are resolved.
2. Varun Shipping Company Ltd. has now filed the Action Taken Report with SCORES and has represented that it has resolved all the pending 90 investor complaints. SEBI has examined these
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Source: SecMarx — sebi:WTM/RKA/EFD/51/2015. 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.