Market Operations - Investigation Department

Circular No. MCX-SX/ID/678/2011

December 29, 2011

SEBI order in the matter of Onelife Capital Advisors Ltd (OCAL).
SEBI vide its ad interim, ex-parte order no: WTM/PS/IVD/ID-10/44/DEC/11 dated December 28, 2011 has, inter-alia, issued the following directions:
  • Onelife Capital Advisors Ltd (OCAL – PAN No. AAACO9540L) is directed that it shall not issue any equity shares or any other instrument convertible into equity shares, in any manner, or shall not alter its capital structure in any manner, till further directions in this regard.
  • Onelife Capital Advisors Ltd (OCAL PAN No.AAACO9540L) is directed not to undertake any fresh business in its capacity as Merchant banker, Portfolio Manager, Stock Broker and Trading Member till further directions in this regard.
  • Onelife Capital Advisors Ltd (OCAL PAN No. AAACO9540L) is further also directed not to buy, sell or deal in securities directly or indirectly, till further directions in this regard.
  • The directors of the OCAL viz. Mr.T.K.P.NAIG (PAN No.ABIPN2653D), Mr.PANDOO NAIG (PAN No.ACNPN2800J), Mr.A.P. SHUKLA(PAN No.AECPS3296Q), Mr.TUSHAR SHIRDHARANI (PAN No.AAIPS0065M), Mr. DHANANJAY PARIKH (PAN No.ACTPP2402L), Mr.T.S.RAGHAVAN (PAN No. AAFPR1521A) are hereby directed not to buy, sell or deal in securities directly or indirectly, till further directions in this regard.
  • OCAL is further directed to call back funds (IPO proceeds and short term loan taken from Prudential Group) transferred to Fincare Financial and Consultancy Services Pvt. Ltd. (PAN No.AAACF6005D) and Precise Consulting & Engineering Pvt. Ltd. (PAN No.AAECP8434E). These amounts together with all the IPO proceeds that are lying unutilized with the company across all its bank/deposits accounts or any investments including in mutual funds, shall be deposited in an interest bearing escrow account with a scheduled commercial bank, till further orders. A confirmation on compliance of this direction shall be sent by promoters of OCAL to the stock exchanges where it is listed, within 7 days from the date of this order.
  • Fincare Financial and Consultancy services Pvt Ltd (PAN AAACF6005D) and Precise Consulting & Engineering Pvt Ltd (PAN AAECP843E) are herby directed not to buy sell or deal in securities directly or indirectly till further directions in this regard.
  • BRLM to the issue viz Atherstone Capital Markets Ltd (ACML) ( SEBI Registration No INM 000011245) Shri Gurunath Mudlapur (Managing Director of ACML) and Shri Ranjan Agarawal (compliance officer of ACML) are hereby are prohibited from taking up any new assignment as merchant Banker or involvement in any new issue of capital including IPO follow on issue etc from the securities market in any manner whatsoever from the date of this order till further directions.
This order shall come into force with immediate effect.

The full text of the order is available on SEBI’s website [ www.sebi.gov.in ]. Members of the Exchange are advised to take note of the above and ensure compliance.
 

For and on behalf of
MCX Stock Exchange Ltd.

Himanshu Ashar
Vice President
 
 
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