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PR No.186/2008
Consent order against Parklight Investment Pvt. Ltd. and others A Panel consisting of Dr. T. C. Nair, Whole Time Member and Shri M.S.Sahoo, Whole Time Member has passed consent order dated September 22, 2008, on application submitted by Parklight Investment Pvt. Ltd., Shri Uday H. Vora, H. Nyalchand Financial Services Ltd., Shri Dhiren Vora, Shri Hasmukhlal N. Vora, Parklight Securities Ltd. in the matters of ETP Corporation Ltd., E-Star Infotech Ltd., SMR Universal, Ransi Software and Genus Commutrade and Parklight Investment Pvt. Ltd., H.Nyalchand Financial Services Ltd., Parklight Securities Ltd., Shri Mukesh K. Chokshi, Shri Hemang J. Kedia, Shri Nimesh G. Gandhi, Shri Kunal B. Shah, Shri Dhaval Shah, Deep Stock Broking Pvt. Ltd. in the matters of Accurate Exports Ltd., Blue Coast Hotels & Resorts Pvt. Ltd., Birmingham Thermotech Ltd., Somplast Leather Industries Ltd., E-Star Infotech Ltd., Genus Commutrade Ltd., Soundcraft Industries Ltd., Top Media Entertainment Ltd., ETP Corporation Ltd., SMR Universal Softech Ltd. and Universal Media Network Ltd. in accordance with SEBI guidelines dated April 20, 2007 for consent orders. The applicants have remitted a total sum of Rupees One Crore towards the terms of consent in the matter and the certificate of registration of Parklight Securities Ltd., broker of Ahmedabad Stock Exchange and Calcutta Stock Exchange shall remain suspended for a period of three months from the date of the order. The order shall come into force with immediate effect. The full text of the order is available on the website
www.sebi.gov.in Mumbai September 23, 2008
Source: SEBI Date: 2008-09-24
PR No.187/2008
Consent order against Shri Deep Trivedi and Smt. Jyoti Trivedi in the matter of Top Media Entertainment Ltd. A Panel consisting of Dr. T. C. Nair, Whole Time Member and Shri M.S.Sahoo, Whole Time Member has passed consent order dated September 17, 2008, on application submitted by Shri Deep Trivedi and Smt. Jyoti Trivedi, in the matter of Top Media Entertainment Ltd. in accordance with SEBI guidelines dated April 20, 2007 for consent orders. The applicants have remitted a sum of Rs.10 Lakh and Rs.2 Lakh respectively towards the terms of consent in the matter. The order shall come into force with immediate effect. The full text of the order is available on the website www.sebi.gov.in Mumbai September 23, 2008
Source: SEBI Date: 2008-09-24
PR No.188/2008
Grant of exemption to Nafisa H Khorakiwala & others in the matter of their proposed increase in voting rights of M/s. Carol Info Services Limited (Target Company) Dr. T.C.Nair, Whole Time Member, SEBI, has passed an order dated September 22, 2008, granting exemption to Nafisa H Khorakiwala, Khorakiwala Holdings & Investment Limited, Habil F Khorakiwala, Palanpur Holdings & Investments Limited, Murtaza H Khorakiwala, Husaifa H Khorakiwala and Dartmour Holdings Private Limited (acquirers) from making an open offer under SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997, with regard to proposed increase in their voting rights from 63.73% to 74.94% incidental to the proposed buy-back of its equity shares by the Target Company. However, the order also lists out certain conditions with regard to the proposed buy-back. Pursuant to the said increase in voting rights, there would not be any change in control of the target company. The application seeking exemption was forwarded by SEBI to the Takeover Panel. The Panel recommended for exemption to the acquirers from making an open offer. The full text of the order is available on the website: www.sebi.gov.in Mumbai September 23, 2008
Source: SEBI Date: 2008-09-24
PR No.189/2008
Consent order in respect of Kishore Thakural and Jay Thakural in the matter of Atlanta Ltd. A Panel comprising of Dr. T. C. Nair, Whole Time Member, SEBI and Shri M. S. Sahoo, Whole Time Member, SEBI has passed consent order dated September 22, 2008 on application submitted by Shri Kishore Thakural and Shri Jay Thakural in accordance with SEBI Guidelines dated April 20, 2007 for consent orders. SEBI had initiated proceedings under Sections 11 and 11 B of SEBI Act, 1992 vide interim Order dated February 22, 2007 against Shri Kishore Thakural and Shri Jay Thakural, among others, who were found to have fraudulently cornered the shares of Atlanta Ltd. reserved under employee quota in IPO issue of Atlanta Ltd. It was found that they had provided funds to the employees of the company specifically to apply shares on their behalf, which upon allotment were transferred by the employees to them by way of off�-market transfers at the issue price, though the market price was substantially higher. Interim Order dated February 22, 2007 had directed Shri Kishore Thakural and Shri Jay Thakural not to buy, sell or deal in securities of Atlanta Ltd., directly or indirectly, till further directions in this regard. The above applicants had applied for settlement of above proceedings through a consent order. Shri Kishore Thakural and Shri Jay Thakural have remitted the entire profit of Rs.9,13,844.00 and Rs.4,88,156.00 respectively which was earned by cornering the shares of Atlanta Ltd. as consent terms in the case. The full text of the above order is available on the website: www.sebi.gov.in Mumbai September 23, 2008
Source: SEBI Date: 2008-09-24
PR No.183/2008
Consent order against Shri Atul B. Shah in the matter of Continental Controls Ltd. A Panel consisting of Dr. T. C. Nair, Whole Time Member and Shri M.S.Sahoo, Whole Time Member has passed consent order dated September 17, 2008, on an application submitted by Shri Atul B. Shah, in the matter of Continental Controls Ltd. in accordance with SEBI guidelines dated April 20, 2007 for consent orders. The applicant has remitted a sum of Rs. 3 lakh towards the terms of consent in the matter and has also undertaken a voluntary bar from buying, selling or otherwise dealing in securities market, directly or indirectly, in any manner whatsoever, for a period of twelve months. The order shall come into force with immediate effect. The full text of the above order is available on the website: www.sebi.gov.in Mumbai September 22, 2008
Source: SEBI Date: 2008-09-24
PR No.184/2008
Consent order against Shri Atul H. Shah and Shri Raju B. Shah in the matter of Universal Media Network Ltd. A Panel consisting of Dr. T. C. Nair, Whole Time Member and Shri M.S.Sahoo, Whole Time Member has passed consent order dated September 18, 2008, on an application submitted by Shri Atul H. Shah and Shri Raju B. Shah, in the matter of Universal Media Network Ltd. in accordance with SEBI guidelines dated April 20, 2007 for consent orders. The applicants have remitted a sum of Rs. 3 lakh and Rs 5 Lakh respectively towards the terms of consent in the matter and have also undertaken a voluntary bar from buying, selling or otherwise dealing in securities market, directly or indirectly, in any manner whatsoever, for a period of twelve months. The order shall come into force with immediate effect. The full text of the above order is available on the website: www.sebi.gov.in Mumbai September 22, 2008
Source: SEBI Date: 2008-09-24
PR No.185/2008
Consent order against Shri Atul H. Shah and Shri Raju B. Shah in the matter of Shalibhadra Infosec Ltd. A Panel consisting of Dr. T. C. Nair, Whole Time Member and Shri M.S.Sahoo, Whole Time Member has passed consent order dated September 18, 2008, on an application submitted by Shri Raju B. Shah and Shri Atul H. Shah, in the matter of Shalibhadra Infosec Ltd. in accordance with SEBI guidelines dated April 20, 2007 for consent orders. The applicants have remitted a sum of Rs. 10 Lakh and Rs 5 Lakh respectively towards the terms of consent in the matter and have also undertaken a voluntary bar from buying, selling or otherwise dealing in securities market, directly or indirectly, in any manner whatsoever, for a period of twelve months. The order shall come into force with immediate effect. The full text of the above order is available on the website: www.sebi.gov.in Mumbai September 22, 2008
Source: SEBI Date: 2008-09-24
PR No.182/2008
Consent order on the application submitted by M/s. SMIFS Securities Ltd. A Panel consisting of Whole Time Members, Dr. T. C. Nair and Shri M. S. Sahoo has passed a consent order dated September 17, 2008 on the application submitted by M/s. SMIFS Securities Ltd., in the matter of inspection of its books of accounts and records, in accordance with SEBI Guidelines dated April 20, 2007 for consent order. The full text of the above order is available on the website www.sebi.gov.in. Mumbai September 22, 2008
Source: SEBI Date: 2008-09-24
PR No.177/2008
Consent Order in the matter of M/s. Lanxess ABS Limited A Panel consisting of Dr. T. C. Nair, Whole Time Member, SEBI, and Shri M.S. Sahoo, Whole Time Member, SEBI, has passed a consent order dated September 17, 2008, on the consent application submitted by M/s. Lanxess ABS Limited for non compliance of Regulation 8(3) of the SEBI (Substantial Acquisition of Shares and Takeovers), Regulations, 1997 for the years 2000, 2001 and 2002, in accordance with SEBI Circular on consent orders dated April 20, 2007. The applicant has remitted a sum of Rs.2,00,000/- (Rupees Two Lakh only) towards the terms of consent in the matter. The full text of the order is available on the website: www.sebi.gov.in Mumbai September 19, 2008
Source: SEBI Date: 2008-09-24
PR No.181/2008
Consent order in the matter of M/s. BOC India Ltd. A Panel consisting of Dr. T. C. Nair, Whole Time Member, SEBI and Shri M. S. Sahoo, Whole Time Member, SEBI has passed a consent order dated September 17, 2008 on the application submitted by BOC Group Plc for delay in compliance of Regulation 3(4) read with Regulation 3(5) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, in accordance with SEBI Circular on consent orders dated April 20, 2007. The applicant has remitted a sum of Rs. 1,00,000/- (Rupees One Lakh only) towards settlement charges in the matter. The full text of the order is available on the website www.sebi.gov.in Mumbai September 19, 2008
Source: SEBI Date: 2008-09-24
PR No.180/2008
Consent orders in the matter of M/s. BOC Group Plc and M/s. BOC Holdings A Panel consisting of Dr. T. C. Nair, Whole Time Member, SEBI and Shri M. S. Sahoo, Whole Time Member, SEBI has passed a consent order dated September 17, 2008 on the joint application submitted by BOC Group Plc and BOC Holdings for non compliance of Regulations 6 and 8 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, for the year 1997 (Regulation 6) and for the years 1997 to 2007 (Regulation 8), in accordance with SEBI Circular on consent orders dated April 20, 2007. The applicants have remitted a sum of Rs. 4,00,000/- (Rupees Four Lakh only) towards settlement charges in the matter. The full text of the order is available on the website www.sebi.gov.in Mumbai September 19, 2008
Source: SEBI Date: 2008-09-24
PR No.179/2008
Grant of exemption to Mahaganpati Investment Private Limited for the proposed acquisition of shares in M/s. Parenteral Drugs (India) Ltd. Dr. T.C. Nair, Whole Time Member, SEBI, has passed an order dated September 18, 2008, granting exemption to Mahaganpati Investment Private Limited (acquirers) from applicability of Regulation 11(2) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997, in respect of their proposed acquisition of 24,00,000 warrants convertible into equivalent equity shares of M/s. Parenteral Drugs (India) Ltd. This exemption is subject to the certain conditions specified in the Order. The application seeking exemption was forwarded by *SEBI to the Takeover Panel. The Panel did not recommend grant of exemption to the acquirers in respect of the proposed acquisition of equity shares pursuant to conversion of warrants allotted to the acquirer. The full text of the above order is available on the website: www.sebi.gov.in Mumbai September 19, 2008
Source: SEBI Date: 2008-09-24
PR No.175/2008
Order against M/s. Atlanta Ltd. and its Promoters Dr. K.M.Abraham, Whole Time Member, SEBI has passed an order dated September 17, 2008 revoking the directions passed vide earlier interim order dated February 22, 2007 as modified vide order dated September 27, 2007 in respect of M/s. Atlanta Ltd. and its Promoters. The current order is passed in view of the initiation of adjudication proceedings against M/s. Atlanta Ltd. and Shri Rajhoo Bbarot, pursuant to the completion of investigations. The full text of the Order is available on the website www.sebi.gov.in Mumbai September 19, 2008
Source: SEBI Date: 2008-09-24
PR No.176/2008
Order against Shri Manish Marwah, Shri Dilip Nabera and others in the matter of M/s. Atlanta Ltd. Dr. K.M.Abraham, Whole Time Member, SEBI has passed an order dated September 17, 2008 revoking the directions passed vide earlier interim order dated February 22, 2007 in respect of Shri Manish Marwah, Shri Dilip Nabera and entities under their control. The current order is passed in view of the initiation of adjudication proceedings against the following entities pursuant to the completion of investigations. a. Shri Manish Marwah b. Shri Dilip Nabera c. Adhunik Finance Private Ltd d. Emerging Capital Advisors Limited e. Mayrose Capfin Private Limited f. Samradha Finstock Private Limited g. Sparkline Mercantile Co. Private Ltd. The full text of the Order is available on the website www.sebi.gov.in Mumbai September 19, 2008
Source: SEBI Date: 2008-09-24
PR No.178/2008
Rejection of exemption application of Shri R B Rajkumar and Shri T R B Rajaa for the proposed acquisition of shares in M/s. Kings India Chemicals Corporation Ltd. Dr. K.M.Abraham, Whole Time Member, SEBI, has passed an order dated September 17, 2008, rejecting the application of Shri R B Rajkumar and Shri T R B Rajaa seeking exemption from applicability of Regulation 11(1) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997, in respect of their proposed increase in voting rights from 27.25% to 41.55% pursuant to the proposed acquisition of 12,44,800 equity shares from Indian Bank Mutual Fund. The application seeking exemption was forwarded by SEBI to the Takeover Panel. The Panel has recommended grant of exemption to the acquirers from making an open offer. The full text of the order is available on the website www.sebi.gov.in Mumbai September 19, 2008
Source: SEBI Date: 2008-09-24
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