SERVICE BY POSTING IN SEBI WEBSITE
Assistant General Manager
Investigation Department
Phone: 26449692
Email: Prasadj@sebi.gov.in
IVD/ID7/PJ/JK /97386 /2007
June 28, 2007
1. M/s M’ Belle International Pvt. Ltd 2. Mr Suresh Hemwani
G Wing, 4th Floor, Tex Center, Director
Narayan Properties, M/s M’ Belle International Pvt. Ltd
Off Saki Vihar Road, G Wing, 4th Floor, Tex Center, Andheri, Mumbai-400 072. Narayan Properties,
Off Saki Vihar Road,
Andheri, Mumbai-400 072
3. Mr. Gopu Parimal Belani 4. Ms. Anupama S Motwani
Director Director
M/s M’ Belle International Pvt. Ltd M/s M’ Belle International Pvt. Ltd
G Wing, 4th Floor, Tex Center, G Wing, 4th Floor, Tex Center,
Narayan Properties, Narayan Properties,
Off Saki Vihar Road, Off Saki Vihar Road,
Andheri, Mumbai-400 072 Andheri, Mumbai-400 072
5. Ms. Rita K Motwani 6. Mr. Sushil Thakkar
Director Director
M/s M’ Belle International Pvt. Ltd M/s M’ Belle International Pvt. Ltd
G Wing, 4th Floor, Tex Center, G Wing, 4th Floor, Tex Center
Narayan Properties, Narayan Properties,
Off Saki Vihar Road, Off Saki Vihar Road,
Andheri, Mumbai-400 072 Andheri, Mumbai-400 072
Dear Sir/Madam,
Non-payment of penalty imposed by Adjudicating Officer –
Order dated JUNE 30, 2004 - Launching of Prosecution
under Section 24 (2) of SEBI Act.
1. You are aware that Adjudicating Officer was appointed by SEBI under Securities and Exchange Board of India Act, 1992 to inquire into and adjudge the contraventions of section 15 A(a) of the SEBI Act, for failure to furnish required information during the investigation in the scrip of M/s Roofit Industries Limited. After complying with the legal procedures, the Adjudicating Officer has vide order dated 30.06.2004 imposed penalty of Rs.1,00,00,000/- (Rupees One Crore only) on M/s M’Belle International (P) Ltd. and sent the copy of order to you (addressee no/s 1). Copy of the said order dated 30.06.2004 is enclosed herewith for ready reference. Further, the Hon’ble Securities Appellate Tribunal vide its order dated 13.11.06 dismissed the appeal filed by you. However, in spite of reminders, M/s M’Belle International (P) Ltd. failed to pay the said penalty imposed by the Adjudicating Officer, thereby violated the provisions of Section 24 (2) of SEBI Act.
2. As per the records available with SEBI, No/s 2, 3, 4, 5& 6 are the directors and solely responsible for the affairs of M/s M’belle International Pvt. Ltd and are liable under Section 27 of SEBI Act.
3. You may be aware that violation of Section 24(2) of the SEBI Act, 1992 renders you liable for prosecution which shall be punishable with imprisonment for a term which may extend to ten years or with fine which may extend to twenty five crore rupees or with both.
4. In view of the above, SEBI is taking steps for launching prosecution against all of you and you shall be solely responsible for the cost and consequences thereof.
Yours faithfully,
Prasad Jagdale
Encl: As above.