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2017 (9) TMI 1921 - Board - SEBIFraudulent IPO - Restraint orders - interim ex parte orders as restrained 238 and 16 entities respectively from accessing the securities market and buying, selling or dealing in securities, either directly or indirectly, in any manner, till further directions - HELD THAT:- Since, the prima facie findings are not observed in the Investigation reports in respect to aforementioned 216 entities at paragraph 4 the directions issued earlier vide interim orders need not be continued and hence need to be revoked In exercise of the powers conferred upon me under section 19 of the Securities and Exchange Board of India Act, 1992 read with sections 11, 11(4) and 11B thereof, hereby revoke the directions issued vide interim orders qua aforesaid 216 entities with immediate effect. The revocation of the directions issued vide the interim orders is only in respect of the entities mentioned at paragraph 4 of this order. As regards remaining entities, violations under SEBI Act, PFUTP Regulations, SEBI (Issue of Capital and Disclosure Requirements) Regulations 2009 and Securities Contracts (Regulation) Act, 1956 were observed and SEBI shall continue its proceedings against them. A copy of this Order shall be served on the Stock Exchanges and Depositories, for necessary action.
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