July
26, 2011
PR
No. 118/2011
Order in the matter of Consortex Karl Doelitzsch (India) Limited
Dr. K. M. Abraham, Whole Time Member, SEBI, has passed an Order dated July 19, 2011 in the matter of Consortex Karl Doelitzsch (India) Limited, issuing the following directions:
a. Consortex Karl Doelitzsch (India) Limited is restrained from issuing further shares or altering its share capital in any manner and is also restrained from accessing the securities market and prohibited from dealing in securities in any manner, directly or indirectly, till such time the said company reconciles its shares held in physical and dematerialised mode with its issued capital and submits a report to that effect duly confirmed/audited by a chartered accountant or a practising company secretary, which shall be confirmed and satisfied by the Securities and Exchange Board of India.
b. Mr. M. Sudhakar Rao, Mr. V. Manohar and Mr. G. Krishna Mohan, Directors of Consortex Karl Doelitzsch (India) Limited are restrained from dealing in securities for a period of six years. The period of debarment already undergone by them in terms of the earlier Orders dated September 29, 2005 and February 1, 2006 of Securities and Exchange Board of India passed in the matter shall be taken into account while computing the said period of six years, as ordered above.
c. The proceedings in respect of Mr. S. Surya Prakasa Rao and Mr. K. Satyanarayan, Directors of Consortex Karl Doelitzsch (India) Limited have abated as they have deceased.
This Order has come into force with immediate effect.
Mumbai
July 26, 2011
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