1. Securities and Exchange Board of India (hereinafter referred to as ‘SEBI’) observed a spurt in the price and volume in the shares of Alka Securities Limited (hereinafter referred to as ‘ASL’) during the period of November, 2008 to March, 2009. The shares of ASL were listed and traded exclusively on the Bombay Stock Exchange (hereinafter referred to as ‘BSE’). Large volume of off-market transfers in the shares of ASL were noted through the surveillance alerts at SEBI in the scrip of ASL. On examination of the details of these off-market transfers, it was seen that on many occasions, the promoters of ASL were involved in these transfers and that subsequently, these shares were traded at BSE through different level of entities.
2. Based on the preliminary findings, SEBI identified different levels and numbers of entities such as 9 promoter level entities, 42 first level entities and 317 second level entities, depending on the persons from whom each entity received the shares through off-market/on-market and indulged in the scheme of price-volume manipulation. Thereafter, vide an ad interim ex-parte order dated July 28, 2009 (hereinafter referred to as the ‘interim order’), various directions were issued inter alia against the entities involved in the matter, as detailed therein. The interim order inter alia directed all the first and second level entities not to buy, sell or deal in the securities of ASL in any manner, till further directions. The interim order was subsequently confirmed by SEBI vide separate orders dated October 16, 2009 and October 30, 2009, the former against ASL and its promoter entities and the later one against the first and second level entities (hereinafter referred to as ‘confirmatory order’).
3. Subsequently, the investigation in the matter was completed and suitable actions against the entities including those to whom directions were issued in the interim order were initiated. I note from the investigation report that the said 317 second level entities identified in the interim order were used as conduits by ASL, its promoters and other related entities. Since, the said 317 entities were restrained from buying, selling and dealing in the securities of ASL vide order dated July 29, 2009 and the said direction is still continuing, no further action has been contemplated as against these entities pursuant to the investigation. Hence, I am of the considered view that the interim directions issued vide SEBI order dated July 28, 2009 need not be continued.
4. Accordingly, I, in exercise of the powers conferred upon me under Section 19 of the SEBI Act read with Sections 11, 11(4)(b) and 11 B thereof, do hereby revoke the interim directions issued vide ad interim ex-parte order dated July 28, 2009 and confirmed vide order dated October 30, 2009, against the said 317 entities mentioned in the table below, with immediate effect:
S. No. Name PAN 1 KUNJ SAURIN SHAH BQBPS8034C 2 YOJANA SAKHARE BPQPS6667R 3 YASMEEN ABDUL REHMAN BLFPS5754Q 4 FATIMA ABDUL RAZAK SHIRVA BJZPS7769F 5 ASRIN M. HANIF SHIRVA BJZPS7768E 6 KHADEEJA S. HAMID SHIRVA BJZPS7625G 7 PRAJAKTA SHINDE BGFPS9869H 8 DEEPALI KOTHARI BFDPK8567D 9 RITABEN P. SANGHVI BDAPS9921G 10 SACHIN P. SANGHVI BAEPS1536E 11 DARSHAN P. SANGHVI BAEPS1535H 12 JASVINDER KAUR SACHDEVA AZPPS9626Q 13 NIRAV HIREN MEWADA AYAPM7580K 14 NILABEN NITINBHAI SHAH ATTPS1393Q 15 MADHU SHAH ARUPS5096F 16 LALITA MAHENDRAKUMAR SHAH ARRPS0077M 17 KUSUM SHARMA APQPS5086K 18 ASIF MOHD ILIYAS SHAIKH APGPS8577P 19 HARMEET SINGH BHASIN ANZPB1452D 20 KAUSHIK HARDASBHAI PATODIYA ANXPP8947P 21 RUPAL ASHISH SAVLA ANVPS5240E 22 MONIKA MEHUL KESARIA ANRPK4123E 23 NEETA R. PATEL ANMPP3819K 24 ARUNA VILAS SOMAN ANEPS4783M 25 MANORMA KUNWAR ANEPK6937D 26 RAGHURAM KANYAN SHETTY AMWPS0596B 27 AHSAN MOHD ILIYAS SHAIKH AMPPS9653L 28 SUMEET SUBHASH BHOIR AMNPB9491R 29 NARESHKUMAR MAHESHKUMAR SAJNANI AMMPS1396K 30 CHETNA RAMJI GANGAR AMMPG4965C 31 PRABHJOT SINGH BHASIN AMMPB0480F 32 SHAH RAMILA JAYANTILAl AMIPS9108D 33 ASHISH DULANI AMBPD8965E 34 K.V.R PRASAD ALEPP7794B 35 VAISHALI SHARAD GAWDE AKZPG4168Q 36 AJAY SARAF AKYPS6638Q 37 RACHIT AGRAWAL AKXPA7947D 38 PARVATI BEN PATEL AKPPP1148P 39 VIJAYA BEN PATEL AKPPP1147C 40 RASHMI BEN PATEL AKPPP1146D 41 ANKIT SHASHIKANT KANSARA AKPPK4485L 42 RICHA JAISWAL AKFPJ0623D 43 BACHUBHAI BHURALAL PATEL AKAPP1879N 44 G. KAMAL AJZPK6932H 45 MEENABEN G. PATEL AJWPP2146F 46 SACHIN BABASAHEB DESHMUKH AJSPD3435F 47 SHEELA BABASAHEB DESHMUKH AJSPD3434E 48 ADITYA PATHAK AJRPP7868D 49 GITABEN SHASHIKANT SHAH AJKPS9683C 50 TRILOCHAN SINGH SUCHDEV AJGPS9694B 51 ADITYA PATEL AJGPP7663P 52 KINJAL RAMANIK DAWADA AJEPD3612L 53 PUSHPALATHA AJCPP9790R 54 NITIN DESHMUKH AIOPD3929K 55 YOGITA MAHESH SAJNANI AINPS8408F 56 DHARABEN MITESHBHAI SHAH AINPS8200K 57 PANKAJKUMAR MISHRIMAL SANGHVI AINPS4041C 58 KUSHAL SURENDRA MANGAL AILPM3396A 59 ANAND MANGAL AIJPM8446P 60 SAROJ SAYANI AIIPS6271P 61 NAHID EJAZAHMED ANSARI AIBPA3358E 62 RASHNA K. BULSARA AIAPB8713B 63 VASHANTIBEN CHANDULAL SHAH AHXPS3318R 64 DEEPESH AGARWAL AHJPA1042N 65 SALONI AGARWAL AHJPA1036G 66 SHASHIKANT NATVARLAL SHAH AHFPS0201H 67 PATEL SHARDABEN AMRUTLAL AHFPP7657J 68 SEHRUNNISA ABDUL Q. KHAN AHBPK6146P 69 DEVYANI MANJIT KUMAR PATEL AGWPP5791M 70 SURBHI CHOPRA AGWPC8809K 71 KIRAN JAIN AGRPJ8263F 72 DHAVAL RAJESH GORASIA AGQPG9683F 73 VINOD BHOGILAL SHAH AGNPS4841E 74 DEVENDRA VINOD SHAH AGNPS4840F 75 ASHOK LALCHAND SHAH AGMPS0253K 76 PATEL ANITA PARESHBHAI AGMPP0843N 77 SHEELA DEVI MAHAWAR AGKPM2350B 78 RATNAMALA SUBHASH BHOIR AGJPB9144K 79 SUBHASH GANU BHOIR AGJPB9142R 80 POOJA JHALANI AGBPJ2064L 81 INDIRABEN LAHERCHAND MEHTA AGAPM6053H 82 UMA YOGENDRA ASHTEKAR AFVPA7141Q 83 NILAMBEN BABULAL SANGHVI AFNPS9256A 84 RAHUL R. JAIN AFNPJ4009A 85 NILESH RANKA AFMPR9365N 86 TARACHAND JAIN (HUF) AFMPM3339M 87 SANGEETHA JAIN AFKPJ3114P 88 ABDUL QUDDUS KHAN AFJPK2769J 89 SANDHYA AGRAWAL AFIPA3683G 90 RAMKARAN AGRAWAL AFIPA3681E 91 SUNIL KUMAR AGRAWAL AFIPA3580J 92 SUMITRA CHOPRA AFHPS5880C 93 MANISH GUPTA AFHPG4246A 94 BINITA SUNILKUMAR KAMALIA AFFPK8512H 95 MEGHA GUPTA AFFPA5743L 96 JADEJA KUMAR MAHENDRASINH AFDPJ3859A 97 SALOMY JACOB AFAPJ2127C 98 RACHANA CHHAPARIA AFAPC5297A 99 VARUN JAIN AEZPJ3027M 100 G. KANCHAN JAIN AEYPK5942F 101 PREM KUMAR KAKKAR AEYPK1378K 102 CHORGE PANDURANG APPA AEYPC8035M 103 PIYUSH CHOPRA AEXPC0055J 104 RAJNI KOTHARI AEVPK0520N 105 VATSAL S. VORA AEUPV3374C 106 TANIKA RAVINDRA JALAN AEUPJ9610H 107 LAXMI PATEL AESPP3594E 108 JAGDISH PATEL AESPP3593D 109 BHANUMATI PATEL AESPP3426P 110 HEMLATA PATEL AESPP3402P 111 SHIROMANI JAIN AESPJ9821Q 112 SHEFALI DIKUL SHAH AEQPS9087R 113 RAJ KUMARI GUPTA AEOPG5752M 114 VINAY KUMAR AGARWAL AEMPK0188B 115 DIVYA GUPTA AEMPG5825R 116 NIMESH SURENDRAKUMAR BHAVSAR AEMPB1809G 117 KAMLESH SURENDRA MANGAL AEKPM3180R 118 ASHWANI KUMAR GUPTA AEIPG1359L 119 MADHU GUPTA AEGPG5088J 120 NAWAL KISHORE SONI AEFPK5133H 121 NANDKISHOR DATTATRAY SAKHARE AEEPS3558K 122 PRASHANT AGARWAL AEEPA0496C 123 PREM KUMAR SHARMA ADZPS0801K 124 DEEPAK UMEDCHAND MEHTA ADZPM2112P 125 REKHA PARASMAL PARMAR ADXPP3153F 126 RITU CHOPRA ADVPJ1309H 127 KISHAN GOPAL MAHAWAR ADTPM2663H 128 BABULAL MISHRIMAL SANGHVI ADRPS3261K 129 SUNIL KUMAR KAMALIA ADQPK8419E 130 SHANTI DEVI ADQPD1519A 131 KAMOD DEVI BACHHAWAT ADQPB6995C 132 KALPANA JAIN ADNPJ8232B 133 GARIMA JAIN ADNPJ3794Q 134 EKTA JAIN ADNPJ1411E 135 GAURIBEN NARENDRA PATEL ADLPP5395B 136 VINOD KUMAR NAVKAR ADLPN9668D 137 SHAKUNTALA VIJAYKUMAR SHINDE ADGPS9938J 138 BHARATHI DEVI ADFPD3395P 139 MANISH PYARCHAND JAIN ADEPJ8351L 140 NANDITA GOYAL ADEPG7628M 141 MANEESHA AGARWAL ADBPA4571E 142 NITIN KUMAR GUPTA ADAPG2090D 143 RAJEEV CHOPRA ACWPC0302M 144 MUKUL AGARWAL ACWPA6156D 145 KAMAL CHANDRA AGARWAL ACWPA2659M 146 MAHESH TILUMAL SAJNANI ACVPS6579H 147 VANDANABEN DEEPAKBHAI MEHTA ACUPM6669B 148 NEETU JAIN ACUPJ0651N 149 DIKUL MAHENDRAKUMAR SHAH ACTPS7330L 150 PATEL BHAVESH BABUBHAI ACSPP8982A 151 PARESH BABUBHAI PATEL ACRPP9789J 152 MANISH KUMAR AGARWAL ACRPA8001E 153 SACHIN JHA ACMPJ3775B 154 MUSAJI IBRAHIM BALESARIA ACMPB8350L 155 ILIYAS ACMPB8349M 156 MOHAMAD ARIF IBRAHIM BALESARIA ACMPB8344G 157 ATAUL USMANGANI MEMON ACLPM6801A 158 OM JAIN ACJPJ0231F 159 INDIRA JAIN ACIPT1312L 160 NARENDRA SHIVGANBHAI PATEL ACIPP9283E 161 SANTOSH KUMAR JAIN ACIPJ0790Q 162 PREMLATA DEVI CHHAPADIYA ACIPC0675P 163 TEJMAL JAIN ACHPJ5196M 164 NAVIN KUMAR JAIN ACHPJ5194K 165 VIMAL KUMAR JAIN ACHPJ5193Q 166 SARLA JAIN ACHPJ5192R 167 ANJU DEVI AGARWAL ACHPA6756E 168 RAJWANTI GUPTA ACGPG2270C 169 MURARI BAJAJ ACGPB5221Q 170 LAHERCHAND UMEDCHAND MEHTA ACFPM2818M 171 MACHANI SHIVA PRASAD ACEPP3107B 172 SURENDRA NATH TRIPATHI ACDPT8173G 173 PIYUSH JAYANTILAL MALDE ACDPM8876H 174 CHETAN CHOPRA ACDPC9263C 175 SAROJ BAJAJ ACCPB9661N 176 PRAMILA K. SETH ACAPS6157N 177 CHAMPA DEVI CHOPRA ACAPC8016A 178 SAJJAN CHOPRA ACAPC8015D 179 CHANCHAL DEVI CHOPRA ABYPC1654R 180 SUWA DEVI CHOPRA ABYPC1653J 181 KAMLESH PRAKASH ABVPP0701H 182 LALITHA J. ABVPL5168L 183 SHAKUNTALA DEVI JHALANI ABUPJ0312R 184 SOHAN LAL JHALANI ABUPJ0262A 185 SEETHARAM BALDEVA ABTPB5317K 186 HEMAXIBEN RAJESHBHAI GORASIA ABSPG1769P 187 RAJESHBHAI PRABHUDASBHAI GORASIA ABSPG1768N 188 POONAM GUPTA ABRPG2342K 189 GORA BAI ABRPB5274B 190 PRAVEEN M. JAIN ABQPJ4771Q 191 MANGILAL JAIN ABQPJ4769A 192 SUDHINDERKUMAR ABNPS0846A 193 TARABEN S. PARIKH ABNPP5386N 194 KANTA LAHOTI ABNPL7061L 195 MUKESH KUMAR JAIN ABNPJ3627L 196 ASHISH KUMAR CHHAPADIYA ABMPC4542L 197 MANISH KUMAR CHHAPADIYA ABMPC4541K 198 PAWAN KUMAR CHHAPADIYA ABMPC4540J 199 BABULAL BHANSALI ABMPB6776F 200 ANANDBA MAHENDRASINH JADEJA ABLPJ1921H 201 JADEJA DEVENDRABA RAJENDRASINH ABLPJ1917H 202 RAJESH GUPTA ABLPG8623M 203 NATHMAL RAMESH KUMAR ABKPR0083M 204 RAMESH CHAND ABKPR0075R 205 BETULLAKHAN ASDULLAKHAN PATHAN ABKPB6908R 206 VISHAKHA RAMESH BHEKARE ABJPB7590A 207 SHEFALI BINDESH SHAH ABIPS9335B 208 BINDESH MAHENDRA SHAH ABIPS3612H 209 RADHESHYAM JAJU ABIPJ0739L 210 ARCHANA PAREKH ABFPP0259E 211 MAYA JHA ABFPJ0945H 212 HARAPANAHALLI CHANDRASEKAR ABDPC3035B 213 DINESH BHIKHABHAI GHEVARIYA ABCPG0638B 214 OMPRAKASH JAJOO ABBPJ8583D 215 GHANSHYAM JAJOO ABBPJ8558Q 216 MOHAN LAL LAHOTI ABAPL6200G 217 HEMANGINI SATISH SHAH AAZPS7309H 218 HARESH KUMAR BABULAL AAZPH6571L 219 SHABANA LALANI AAXPL8934H 220 SHREE NIWAS LAHOTI AAXPL1552D 221 KAMAL KISHOR LAHOTI AAWPL4211A 222 SHANTI LAL LUNKAD AAWPL0464H 223 RAJENDRA KUMAR LUNKAD AAWPL0463A 224 SURYA DEVI LUNKAD AAWPL0462B 225 NEERAJ KUMAR LUNKAD AAWPL0459J 226 PREETI LUNKAD AAWPL0458K 227 HAR PRASAD JAISWAL AAWPJ2777M 228 SUDHA DATTATRAY ASHTEKAR AAWPA8894L 229 KAMLA KANUNGO AAVPK6244R 230 VIKITA S. KANSARA AAUPK0416A 231 TEEJA DEVI AASPT2488B 232 RAMESH MARUTI BHEKARE AAQPB4088H 233 NISARAHMED MOHMADYUSUF ANSARI AAQPA3488C 234 BHAWNA DULANI AAPPD3971J 235 MUKESH CHOPRA AAPPC9599P 236 REKHA S. CHOPRA AAPPC9598N 237 REKHA R. CHOPRA AAPPC9597D 238 KAMLESH KUMAR M. AAOPK0619B 239 KHURSHEED MERCHANT AANPM6069Q 240 MADHU BHANSALI AANPB2492A 241 SATISH DEVICHAND SHAH AAMHS9911E 242 VIJAY DOLANDAS MAKHIJA AALPM8960E 243 GEETA PANKAJKUMAR JAIN AAKPV1459L 244 SHANTILAL LUNKER AAKHS3350M 245 RAJESH NEMCHAND SHAH AAKHR1620K 246 RAVINDRA JALAN AAJHR3464G 247 ANIL SHANTILAL PATEL (HUF) AAJHA3477L 248 SATISH CHOPRA AAIPC6212E 249 SANGEETA CHOPRA AAIPC6211H 250 RAJENDRA CHOPRA AAIPC1036C 251 RAJESH MEHTA AAIHR3010D 252 RAJESH DANTEWADIA AAHHR8390B 253 P.M SANGHVI (HUF) AAHHP3138D 254 KIRIT RATILAL SHAH (HUF) AAHHK6820R 255 ANAND S. MASHRUWALA AAGPM0003P 256 SAMIR LALANI AAGPL5776N 257 SATISH CHOPRA - KARTA (SATISH CHOPRA HUF) AAGHS0986P 258 RAMESH CHANDRA SHYAMLAL AGRAWAL AAGHR3394N 259 BHAVESH SHANTILAL PARIKH AAGHP7176N 260 MANOJ KUMAR KOTHARI AAGHM6623M 261 KAMAL KISHOR LAHOTI AAGHK5990P 262 BRIJESH KHANDELWAL AAGHB7201Q 263 RAVINDRA C. JALAN AAFPJ1645P 264 VINOD JAIN (HUF) AAFHV1145L 265 SUNILKUMAR OMPRAKASH KAMALIA AAFHS3147F 266 DIKUL M. SHAH AAFHS1796A 267 SATISH KUMAR GUPTA AAFHS0298P 268 RAMESHKUMAR KAPOORCHAND MEHTA (HUF) AAFHR9008E 269 NITINKUMAR AMICHAND SHAH AAFHN1170F 270 MOHAN LAL KARSAN BHAI AND SONS (HUF) AAFHM4899C 271 DEEPAK PURUSHOTTAM PATEL (HUF) AAFHD8387N 272 B.M SANGHVI (HUF) AAFHB1497K 273 VILAS MANOHAR SOMAN AAEPS6800L 274 MEENA SURENDRA JAIN AAEPJ7564J 275 VIJAYKUMAR KRISHNACHAND CHELLANI AAEHV3521P 276 SUNIL KUMAR AGRAWAL AAEHS2185N 277 BALKISHAN AGRAWAL AAEHB9070P 278 BHARATH AAEHB4627C 279 AKHILESH B. ACHARYA AAEHA0777Q 280 NAVIN CHANDRU SONEJI AADPS6683C 281 VIJAYKANT MAVJI SAYANI AADPS6161R 282 JAYANTILAL GATURDAS MEHTA AADPM5623Q 283 PRAVEEN MANGILAL JAIN AADPJ0540R 284 ACHARAJ BAI AADPA2704Q 285 KUMARPAL JOITALAL SHAH AADHS4113B 286 JAGDISH KARSAN PATEL AND SONS (HUF) AADHJ5944H 287 ASHISH CHANDRAKANT SAVLA (HUF) AADHA7858K 288 LALIT KUMAR JAIN AACPJ2345P 289 SHANTILAL JAIN AACPJ2250R 290 SHARDADEVI RAMESHCHANDRA AGRAWAL AACPA4993L 291 RAJENDRA PRASAD AGARWAL AACHR9476B 292 KESHRIMAL MAFATLAL SETH (HUF) AACHK3218A 293 JAYANTILAL G. MEHTA (HUF) AACHJ0515P 294 CHIMANLAL NATHALAL SHAH AACHC6684C 295 CHANDRESH VIJAY SAYANI AACHC5548K 296 CHETAN CHOPRA AACHC2956F 297 RAJNIKANT BANSILAL KANSARA AABPK8730E 298 BALMUKUND KHUBILAL BAHETI AABPB3368D 299 CHETAN N. THADESHWAR AABHT4744F 300 LALIT KUMAR JAIN (HUF) AABHT4404Q 301 PATEL NARENDRA SHIVGANBHAI AABHP3659M 302 MANGAL CHAND CHOPRA-KARTA (M.C CHOPRA HUF) AABHM7807G 303 MANGILAL JAWANMAL JAIN (HUF) AABHM2855E 304 MANOJ CHOPRA - KARTA (M. CHOPRA HUF) AABHM2263C 305 JUGRAJ RAJENDRA KUMAR - KARTA (J.R KUMAR HUF) AABHJ8594F 306 ASHWANI GUPTA AABHG2422F 307 BHARAT NANALAL POPAT AAAPP6701F 308 SHASHIKANT B. KANSARA AAAHS9477H 309 MANGAL CHAND RAJENDRA KUMAR CHOPRA-KARTA AAAHM6901J 310 INDERMAL MANGILAL AAAHI0801F 311 INDER CHAND CHOPRA - KARTA (INDER C. CHOPRA HUF) AAAHI0438N 312 RAWAL CHAND CHOPRA-KARTA (RAWAL C. CHOPRA HUF) AAAHC6175N 313 SWAROOP CHOPRA - KARTA (SWAROOP CHOPRA HUF) AAAHC6001R 314 BHANWAR LAL CHOPRA - KARTA (B. CHOPRA HUF) AAAHC6000Q 315 RAWAL CHAND BHANWAR LAL CHOPRA - KARTA (R. HUF) AAAHC2327J 316 CHANDRAKANT LALJI SAVLA (HUF) AAAHC0497H 317 AIDOS TRADE LIMITED AAACG1458P
5. Copy of this order shall be served on the National Stock Exchange, Bombay Stock Exchange, National Securities Depositories Limited and the Central Depository Services (I) Limited, to enable them to take necessary steps for ensuring due compliance.
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