Notice No20210330-48Notice Date30 Mar 2021
CategoryComplianceSegmentGeneral
SubjectOrder in the matter of ADF Foods Limited
Content

To

 

All Trading Members of the Exchange

 

Sub:  Order Under Sections 11(1), 11(4) and 11B of the Securities and Exchange Board of India Act, 1992, in the matter of ADF Foods Limited.

 

SEBI vide its order no. WTM/SM/IVD/ID9/11239/2020-21 dated March 30, 2021 has inter-alia issued following directions:

 

 

  • The Noticee nos. 1, 2 and3 are restrained from accessing the securities market and are further  prohibited  from  buying,  selling  or  otherwise  dealing  in  securities,  directly  or indirectly, or being associated with the securities market in any manner, whatsoever, for a period of 6 months from the date of this Order.

 

  • The Noticeenos. 1, 2 and3 are restrained from buying, selling or dealing in the securities of ADF Foods Limited, directly or indirectly, in any manner whatsoever, for a period of 1year.

 

  • The Noticee nos. 4, 5 and 6 are restrained from accessing the securities market and are further  prohibited  from  buying,  selling  or  otherwise  dealing  in  securities,  directly  or indirectly, or being associated with the securities market in any manner, whatsoever, for a period of 3 months from the date of this Order.

 

·         It is clarified that during the periodof restraint, the existing holding of securities, including the units of mutual funds shall remain under freeze in respect of the aforesaid debarred Noticees.

 

·         The obligation of the aforesaid debarred Noticees, in respect of settlement of securities, if any, purchased or sold in the cash segment of the recognized stock exchange(s), as existing on the date of this Order, can take place irrespective of the restraint/prohibition imposed by this Orderonly, in respect of pending unsettled transactions, if any. Further, all open positions, if any, of the Noticeesdebarred in the present Order, in the F&O segment of the stock exchanges, are permitted to be squared off, irrespective of the restraint/prohibition imposed by this Order.

 

This Order is effective from the date of the order.

 

A copy of the said Order is attached herewith and available on the SEBI website www.sebi.gov.in.

 

Trading members are advised to take note of the same and ensure compliance.

 

 

 

Jeevan Noronha                                                                                          Roshani More          

Senior Manager                                                                                           Assistant Manager  

Surveillance                                                                                                  Surveillance

 

Date: March 30, 2021

 

Attachments
Order in the matter of ADF Foods Limited.pdf