sebi:WTM/VKC/MIRSD/DPS-1/107/07
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Facts / Headnote
Confirmed ex-parte interim order dated August 17, 2007 except para 5.1(i) revoked
Parties
- ACL
Holding
The ex-parte interim order dated August 17, 2007 against ACL is confirmed except for the direction at para 5.1(i), which is revoked, while the direction at para 5.1(ii) is continued; ACL is directed to submit documentary evidences for settlement of the dues of Johari’s to SEBI within 30 days.
Full text
ii) As it is evident from the findings of the inquiry that sales proceeds of 449 shares of ACC and also the sales proceed of shares of 29 companies were not paid to the complainant, NSE is advised to deduct the amount equivalent to the current market price of the above mentioned shares from the deposits of the ACL and retain the same in a separate account till the full and final settlement of the matter. iii) The Enquiry Officer appointed by Board shall ensure the speedy completion of the enquiry proceedings and submit the Enquiry Report with its recommendations to the Board at the earliest. The Board after receiving of the Enquiry Report shall take all measure to pass its final order as early as possible. ACL is also directed to co-operate with the concerned authorities for early completion of the enquiry proceedings.
submitted that their business have already suffered heavily for almost three months now and have been causing immense difficulties and hardships to their prospective as also existing clients in view of the restrictions imposed on them for opening new trading as well as DP accounts and entering into new agreements as RTI / STA.
into new agreements as RTI / STA, I hereby modify by revoking the direction at para 5.1 (i) of the ex-parte interim order dated August 17, 2007. Further I hereby direct that ACL to submit documentary evidences for settlement of the dues of Johari’s to SEBI within 30 days.
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Source: SecMarx — sebi:WTM/VKC/MIRSD/DPS-1/107/07. 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.