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Summons issued to Mr. Dharmesh Doshi in the dealing of Jermyn Capital LLC

Sep 24, 2007
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Unserved Summons / Notices

CHIEF GENERAL MANAGER

INVESTIGATION DEPARTMENT

EMail : pkb@sebi.gov.in

Tel: 91-22-26441680

Fax: 91 -22-26449019

IVD/ID-5/PKB/BJD/ 105129 /2007

September 24, 2007

 

 

Mr. Dharmesh Doshi

Executive Director, Jermyn Capital Plc

Devlin House, 36, St. George Street,

Mayfair, London WIS 2FW.

 

Dear Sir

 

Sub: Submission of Information / Documents

 

SEBI is conducting investigation into the dealing of Jermyn Capital LLC in Indian Capital Markets. In this connection, your cooperation is crucial for completion of our investigation expeditious. You are requested to submit the information contained in the annexure by on October 19, 2007. The summons issued by Investigating Authority under Section 11(3) of the Securities and Exchange Board of India Act, 1992 (Act 15 of 1992) is enclosed.

 

Yours faithfully,

 

 

P K BINDLISH

 

 

 

 

 

 

 

 

 

 

 

 

SUMMONS TO COMPEL THE PRODUCTION OF DOCUMENTS BEFORE THE INVESTIGATING AUTHORITY

 

[Under Section 11(3) and 11C(3) of the Securities and Exchange Board of India Act, 1992 (Act 15 of 1992)]

 

Mr. Dharmesh Doshi

Executive Director, Jermyn Capital Plc

Devlin House, 36, St. George Street,

Mayfair, London WIS 2FW.

 

 

WHEREAS your co-operation is required in connection with the investigations instituted by Securities and Exchange Board of India (hereinafter referred to as `SEBI') in the case of dealing by Jermyn Capital LLc in Indian Capital Markets  

 

AND WHEREAS you are hereby summoned to submit by October 19, 2007, before the investigating officer(s) named below all the details mentioned in the annexure at the following address:

 

SECURITIES AND EXCHANGE BOARD OF INDIA

SEBI Bhavan, C-4A,

Bandra Kurla Complex,

Mumbai 400 051.

 

Further take notice that, without prejudice to the provisions of any other law for the time being in force, if you omit to produce the books of accounts and/or documents as required, SEBI will initiate adjudication proceedings against you under which you could be levied a penalty of one lakh rupees for each day during which such failure continues, or one crore rupees, whichever is less, as provided under section 15A of Securities and Exchange Board of India Act. Further, criminal prosecution may also be launched against you under section 11C(6) which provides for a punishment with imprisonment for a term which may extend to one year, or with fine which may extend to rupees one crore, or with both, and also with a further fine which may extend to five lakh rupees for each day after the first, during which the failure or refusal continues.

 

GIVEN under my hand and the seal of the Board, this 28nd day of September, 2007.

 

Signature of the Investigating Officer

 

Name of the Investigating Officer:  P K BINDLISH

  CHIEF GENERAL MANAGER

 

Encl: As above.

ANNEXURE

 

  1. It has been noted that Triumph Securities UK Plc (TSUP) was step down company of International Holdings (Triumph) Limited (registered in Mauritius) which is wholly owned subsidiary of Triumph International Finance (India) Ltd,(TFIL) company registered in India. It is also observed that you are one of the promoter / director of TFIL. In this regards, you are requested to provide complete details of the directors, shareholding of International Holdings (Triumph), Triumph Securities UK Plc (TSUP) and Triumph International Finance (India) Ltd, for the period 2000-2002 along with corresponding supporting documents.
     
  2. Please provide brief write up regarding the origin of Triumph Securities UK plc and also state whether Ketan Parekh or his family member were ever member of Board of Triumph Securities UK Plc. If so please provide details thereof. 
     
  3. In connection with the acquisition of TSUP by current management, complete chronology of events for sale of TSUP may be provided which should include.
     
  4.  
    1. The decision of the Board to sell the stake in TSUP,
    2. Date when negotiations with Berkshire Hathaway Ltd (BHL) started /initiated,
    3. The names of the person / directors who initiated negotiation and person / director with whom negotiations were initiated.
    4. The complete correspondences made with BHL in this regard,
    5. The date when the deal was finally finalized and the corresponding terms and conditions agreed upon
    6. The copy of the Board minutes approving such deal and details of the directors who were present in the Board meeting.
    7. Details of payments received from acquirer towards sale consideration may be to submit the copies of the bank transactions statements demonstrating receipt of payment from BHL should be submitted. 

       
  5. Please provide the bank transaction statement of Elliot Group Holding Ltd during the period 2002-2005 and the beneficial owner of this entity.
  6. The details of all the companies / entities connected with you or your family member either directly or indirectly and registered either in India or any other country.

 

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