PR No.275/2010

Orders in respect of failure to redress investor grievances by five companies and their directors

In the matter of non-redressal of investor grievances by the below mentioned five companies and their directors, Dr. K. M. Abraham, Whole Time Member, SEBI, has passed orders dated December 15, 2010 restraining them from accessing the securities market and prohibit them from buying, selling or otherwise dealing in securities, directly or indirectly, till all the pending investor grievances against the Companies are resolved.

Sr No	Name of the Company / Directors
1	Indo American Credit Corporation Ltd	Company
2	Kanel Oil & Export Industries Ltd	Company
3	Mr. Thakkar K. Dhiren	Director
4	Mr. Thakkar K. Hitesh Bhai	Director
5	Mr. Khese S. Umesh	Director
6	Kolar Information Technologies Ltd (Kolar Biotech Ltd.)	Company
7	Mr. Basantani Chinrai Raj Kumar	Director
8	Mr. Jain Mohanlal Vijay	Director
9	Motorol Enterprise Ltd	Company
10	Mr. Gandhi K. Shashikant	Director
11	Mr. Gandhi K. Chandrakant	Director
12	Mr. Gandhi S. Rinki	Director
13	Mr. Thakar S. Mahesh	Director
14	Panjwani Packaging Ltd	Company
15	Ms. Sujata Verma	Director
16	Mr. Amarlal Chugh	Director
17	Mr. Kamal Panjwani	Director

The orders have come into effect immediately

The full text of the orders is available on the website: www.sebi.gov.in

Mumbai

December 16, 2010