PR No.241/2010

Consent Order on the application submitted by  Kinetic Capital Services Ltd. and its directors in the matter of Kinetic Capital Services Ltd.

A Panel consisting of Whole Time Members, SEBI, Dr. K. M. Abraham and  Shri Prashant Saran, has passed consent order dated October 22, 2010 on an application submitted by Kinetic Capital Services Ltd. and its directors Shri Deepak Kumar Gupta and Shri Sanjiv Khurana, in accordance with SEBI circular dated  April 20, 2007 for consent orders.  Kinetic Capital Services Ltd. and its directors have remitted a sum of ` 1,00,000/- (Rupees one lakh only) each towards settlement charges and also agreed for voluntary debarment from dealing in the securities market for a period of six months as terms of consent in the matter. SEBI has accepted the said terms of settlement and this consent order disposes of the proceedings initiated against them under Section 11B of SEBI Act, 1992. It is also ordered that Kinetic Capital Services Ltd. and its directors shall not buy, sell or deal in the securities market, in any manner whatsoever, for a period of six months from October 28, 2010.   

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

Mumbai

October 28, 2010