February 14, 2005
PR No. 33/2005

Orders against twelve companies - undue delay in dematerialization

Securities and Exchange Board of India (SEBI) has been receiving complaints against the following companies delaying the dematerialization requests of the investors:

1. Inditalia Refcon Ltd.

2. Satkar Electronics Ltd.

3. Lan Eseda Industries Ltd.

4. Daewoo Motors India Ltd.

5. Malvika Steel Ltd.

6. Nagarjuna Drugs Ltd.

7. Prime Petro Products Ltd.

8. Montari Industries Ltd.

9. Terrygold India Ltd.

10. Uniworth Textiles Ltd.

11. Motorol Enterprises Ltd.

12. Navinon Ltd.

In terms of orders dated January 27, 2005 issued u/s 19 of the Depositories Act, 1996, the above companies have been directed to complete all pending requests for dematerialization within a period of one month from the date of receipt of the order and to submit a compliance report thereof to SEBI, failing which, they shall stand automatically restrained from accessing the securities market and prohibited from buying, selling or dealing in securities for a period of two years.
 
 
Mumbai
 
February 14, 2005

For full copy of order against DAEWOO MOTORS (INDIA) LTD., click here.

For full copy of order against INDITALIA REFCON LTD., click here.

For full copy of order against LAN ESEDA INDUSTRIES LTD., click here.

For full copy of order against MALVIKA STEEL LTD., click here.

For full copy of order against MONTARI INDUSTRIES LTD., click here.

For full copy of order against MOTOROL ENTERPRISES LTD., click here.

For full copy of order against NAGARJUNA DRUGS LTD., click here.

For full copy of order against NAVINON LTD., click here.

For full copy of order against PRIME PETRO PRODUCTS LTD., click here.

For full copy of order against SATKAR ELECTRONICS LTD., click here.

For full copy of order against TERRYGOLD (INDIA) LTD., click here.

For full copy of order against UNIWORTH TEXTILES LTD., click here.