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Showing contexts for: shilotri in Avadhoot L. Shilotri vs Securities And Exchange Board Of India on 21 May, 2004Matching Fragments
Kumar Rajaratnam, J. (Presiding Officer)
1. Appeal is taken up for disposal with consent of both parties.
2. Avadhoot Shilotri is the appellant in this appeal (hereinafter referred to as the "appellant"). The appellant challenges the order passed by the respondent Securities & Exchange Board of India dated 2.1.2004.
3. The operative portion of the order passed by the respondent reads as follows:-
"In view of the above, in the interests of investors and in order to protect the integrity of the securities market it is imperative to prohibit Shri A.L. Shilotri from dealing in securities for a particular period. Therefore, in exercise of the powers conferred on me vide Section 19, 11(4) (b) and 11B of the SEBI Act and Regulation 11 of the SEBI (Insider Trading) Regulations, 1992, I hereby direct that Shri A.L. Shilotri shall dissociate himself from the securities market and that he shall not deal in securities henceforth for a period of 6 months."