sebi:WTM/RKA/OIAE/20/2013
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Facts / Headnote
Directions issued against Solid Carbide Tools Limited and its directors vide Order dated April 8, 2011 revoked.
Provisions invoked
- s. 19
Parties
- Solid Carbide Tools Limited
- Mr. Dilip Suresh Shah
- Mr. Narendra C Doshi
- Mr. Mukhesh M Kothari
Holding
SEBI revoked the market access restrictions imposed on Solid Carbide Tools Limited and its directors Mr. Dilip Suresh Shah, Mr. Narendra C Doshi and Mr. Mukhesh M Kothari vide Order dated April 8, 2011, as the underlying investor grievances had been fully redressed.
Full text
SECURITIES AND EXCHANGE BOARD OF INDIA CORAM: RAJEEV KUMAR AGARWAL, WHOLE TIME MEMBER ORDER In respect of Solid Carbide Tools Limited and its directors Mr. Dilip Suresh Shah, Mr. Narendra C Doshi and Mr. Mukhesh M Kothari ______________________________________________________________________________
1. The Securities and Exchange Board of India (hereinafter referred to as 'SEBI'), vide Order dated April 8, 2011, restrained Solid Carbide Tools Limited (hereinafter referred to as the 'Company') and its directors, Mr. Dilip Suresh Shah, Mr. Narendra C Doshi and Mr. Mukhesh M Kothari from accessing the securities market and prohibited them from buying, selling or otherwise dealing in securities, directly or indirectly, till all the pending investor grievances against the said Company are resolved and the same is reported to and confirmed by SEBI. The said direction was issued as it was found that the Company had failed to redress pending investor grievances. The Company has now reported that it has redressed all the pending investor grievances. SEBI has examined the
submissions of the Company and is satisfied that the Company has redressed all the pending complaints. It is also placed on record that there are no pending complaints against the Company reported in SEBI Complaints Redress System (SCORES) as on April 12, 2013. Thus, it is noted that the Company has resolved all pending investors' complaints that were the cause for the issuance of the directions vide Order dated April 8, 2011, as well as other complaints, if any, against it as on April 12, 2013. Therefore, it would be in the interest of justice to discontinue the directions issued against the Company and its directors, vide Order dated April 8, 2011.
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Source: SecMarx — sebi:WTM/RKA/OIAE/20/2013. 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.