sebi:WTM/SM/IMD/CIS/46/2021-22
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Facts / Headnote
Restraint order dated March 19, 2021 suspended in respect of specified joint demat accounts and mutual fund folios where Appellants are second holders, subject to conditions; SEBI at liberty to seek further information.
Provisions invoked
- s. 11(1)
- s. 226
Parties
- Prime Plantations Private Limited and others
Holding
The restraint imposed by SEBI's order dated March 19, 2021 would not operate on the specified joint accounts and mutual fund folios listed in Table 1 where the Appellants are second holders, subject to SEBI's liberty to seek further/additional information from the Applicants.
Full text
Miscellaneous order in the matter of Prime Plantations Pvt. Ltd. and others Page 1 of 4 WTM/SM/IMD/CIS/46/2021-22 SECURITIES AND EXCHANGE BOARD OF INDIA
Miscellaneous order in the matter of Prime Plantations Pvt. Ltd. and others Page 2 of 4 Mutual Funds 2. Sarla Saraf (Wife of Appellant 6) with Motilal Saraf (Appellant 6) (PAN of 1st Holder: ALVPS3697P) (PAN of 2nd Holder : AMPPS3565H) Mutual Funds
Miscellaneous order in the matter of Prime Plantations Pvt. Ltd. and others Page 3 of 4 III. Physical shares earlier held by the first, second and third holder jointly in their names, in whatever sequence, can be transferred to the joint demat account, involving the economic interest of all the joint holders of such demat account.
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Source: SecMarx — sebi:WTM/SM/IMD/CIS/46/2021-22. 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.