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the order may be filed within 15 days from the date of the order. The Noticee had sought
inspection of documents which was duly given to the Noticee. The Noticee, however, did not
submit any reply on allegation in the interim order cum Show Cause Notice. The notices providing
opportunities of personal hearings were returned undelivered and the Noticee did not avail any
of them. Subsequently, vide his letter dated April 30, 2015, the Noticee requested for vacating
the interim order. The Noticee availed the opportunity of personal hearing on June 11, 2015 when
his authorised representatives appeared before me and made submissions and sought time to
file written submissions. The written submissions were submitted by the Noticee on June 30,
Order in the matter of Vijay Textiles Ltd.
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of VTL which has been paid by him. With regard to allegation of funding of trades in scrip of
VTL it is noted that the said allegation was on the basis of prima facie observation which was
predominantly in respect of scrip of SCL. It is also noted that the alleged default pertains to
November 2006. The investigation was completed in the year 2007 and thereafter the interim
order cum SCN was issued on September 20,2007 whereby the Noticee has already been restrained
from dealing in securities on the basis of prima facie findings and such restraint still continues.
There is no detail/information on record to indicate that investors suffered any loss on account
of acts and omissions of the Noticee.
6. Considering the above facts and circumstances of the case, I, do not deem necessary to issue any
other direction to the Noticee or to continue the direction issued to the Noticee vide the interim
order dated September 20, 2007. The present proceedings commenced by said interim order in
respect of VTL are disposed of accordingly without any further directions.
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