SEBI restrains 26 firms from accessing securities market

Mumbai, Oct 17 (UNI) Securities and Exchange Board of India (SEBI) has passed an order restraining 26 entities from accessing the securities market for a period of five years and prohibited them from buying, selling or dealing in securities either directly or indirectly for a period of five years.

The order was passed by SEBI's whole-time member G Anantharaman yesterday.

The entities include Shonkh Technologies International Ltd, Padmini Technologies Ltd, Padmini Technologies Ltd's Managing Director Vivek Nagpal, Ankur Cultivators Pvt Ltd, M/s Advance Hovercrafts and Composites (India) Ltd, Mikona Impex and Traders Pvt Ltd, Iris Infrastructurals Pvt Ltd, Churuwala Exports Pvt Ltd, R C Gupta&Co Pvt Ltd, Sadashiv Securities Pvt Ltd, Sanyo Finance Pvt Ltd, Saral Website and Exim Pvt Ltd, Zodiac.com Pvt Ltd (now known as Zodiac.com Solutions Pvt Ltd), Spectrum.com Pvt Ltd, Noted Infotech Pvt Ltd, DKG Buildcon Pvt Ltd, Moneygrowth Finance and Consultants Pvt Ltd (now known as Moneygrowth Investment and Consultants Pvt Ltd), Shamit Finvest Pvt Ltd, Mr Mukesh Gupta, Mr Baldev Raj, Baldev Harish Electrical Pvt Ltd, FNS Consultants Pvt Ltd, Rajkar Electricals and Electronics Ltd, Harpal Associates Pvt Ltd, Ms Simmy Gupta, M/s Atromax International Ltd.

Also, Iris Infrastructurals Pvt Ltd, Churuwala Exports Pvt Ltd, DKG Buildkon Pvt Ltd and Mikona Impex and Traders Pvt Ltd have come to the adverse notice of SEBI in the case of Padmini Technologies Ltd, wherein they (including Padmini Technologies Ltd) were found to have been involved in the manipulation of the shares of Padmini Technologies Ltd in a similar way more or less during the same period and SEBI, vide order on March 31, 2007/January 31, 2007, inter alia restrained them from dealing in securities for a period of five years, the SEBI release said.

The order shall come into force with immediate effect.

UNI