sebi:WTM/SR/SEBI/EFD/64/12/2016

SEBI · SEBI · 2016-10-07 · S. Raman, Whole Time Member

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

Facts / Headnote

Representation dated October 7, 2016 disposed of; request to de-freeze demat and mutual fund accounts for general use denied, sale permitted only to pay disgorgement

Parties

• Vashi Constructions Pvt. Ltd.
• Bhavana Rajesh Shah
• Rajesh Chandrakant Shah

Holding

SEBI rejected the applicants' request to de-freeze demat and mutual fund accounts for their own use and held they remain prohibited from accessing the securities market, except for selling shares through a SEBI registered broker to the extent necessary to pay disgorgement of Rs.23,89,873 with 12% simple interest from February 2007.

Full text

. Page 2 of 5 4. Thereafter, Vashi Constructions Pvt. Ltd., Ms. Bhavana Rajesh Shah and Mr. Rajesh Chandrakant Shah (hereinafter referred collectively as “the applicants” and individually by their respective names) vide letter dated October 7, 2016 made a representation before SEBI. The details are as under:

. Page 3 of 5 Urvi Rajesh Shah/Harsh Rajesh Shah DP Name Name of Joint Holders Demat BOID Monetonic Financial Services Pvt. Ltd Urvi Rajesh Shah and Bhavana Rajesh Shah (Appellant no.2) Mutual Fund Acount Monetonic Financial Services Pvt. Ltd Harsh Rajesh Shah and Bhavana Rajesh Shah (Appellant no.2) Mutual Fund Acount Prabhudas Liladhar Pvt. Ltd Harsh Rajesh Shah and Bhavana Rajesh Shah (Appellant no.2) 120113000091602 Prabhudas Liladhar Pvt. Ltd Urvi Rajesh Shah and Bhavana Rajesh Shah (Appellant no.2) 1201130000627450 HDFC Bank Harsh Rajesh Shah and Bhavana Rajesh Shah (Appellant no.2) IN301549/375329242 Anand Rathi Share and Stock Brokers Limited Harsh Rajesh Shah and Bhavana Rajesh Shah (Appellant no.2) 1201060002361980

. Page 4 of 5 6.3 There are mainly two directions in the Order dated August 12, 2016 passed against the applicants, i.e.  Debarment from the securities market for a period of 5 years from the date of the Order 

Source: SecMarx — sebi:WTM/SR/SEBI/EFD/64/12/2016. 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.