Adjudication order in respect of Fourteen entities in the matter of Sunrise Asian Ltd

BEFORE THE ADJUDICATING OFFICER
SECURITIES AND EXCHANGE BOARD OF INDIA
[ADJUDICATION ORDER: Order/MC/VS/2020-21/9262-9275]

UNDER SECTION 15-I (2) OF SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 AND RULE 5 OF SEBI (PROCEDURE FOR HOLDING INQUIRY AND IMPOSING PENALTIES) RULES, 1995.

In respect of –

1. DCB Plus N Holdings LLP (PAN AAKFD5461C) having address at 201 Saarthi CHS 33 KM Munshi, Marg Chowpatty, Mumbai 400007 and 205 A Kapadia Chambers, 599 J S S Road, Mumbai – 400002

2. Liberal Realtors LLP (PAN AAFFL2615K) having address at Flat no 601 Hariom Apartment Bhakti Vedant Hospital Road Mira Road (East) Mumbai 401107

3. Iceworth Realty LLP (PAN AAEFI8575N) having address at U-31 Ground flr, Diamond Worlds Mini Bazar Varachha Road Surat 395006

4. Dinesh Shah (PAN ALJPS2675R) having address 60A 3rd flr, Jariwala Bldg, Sane Guruji Marg, Tulsiwadi, Tardeo Mumbai 400034

5. Bina Shah (PAN BIKPS4819Q) having address at 60A 3rd flr, Jariwala Bldg,
Sane Guruji Marg Tulsiwadi, Tardeo Mumbai 400034

6. Geeta M Joshi (PAN AAHPJ9898G) having address at 42 A/3 479 Jariwali Bldg
Arthur Road Tulsiwadi Tardeo, Mumbai 400034

7. Kanaiyalal Joshi (PAN ACXPJ1279R) having address at 3/23 Mughbhat Lane Girgaon, Mumbai 400034

8. Mahesh Kumar Joshi (PAN AHOPJ3953A) having address at 42 A/3 479 Jariwali Bldg, Arthur Road Tulsiwadi Tardeo, Mumbai 400034

9. Mayank Joshi (PAN AHOPJ3953A) having address at 42 A/3 479 Jariwali Bldg
Arthur Road Tulsiwadi Tardeo, Mumbai 400034

10. Mukesh Chauhan (PAN ACTPC6124A) having address at 42 A/3 479 Jariwali Bldg, Arthur Road Tulsiwadi Tardeo, Mumbai 400034

11. Nilesh Chauhan (PAN ACTPC1722E) having address at 42 A/3 479 Jariwali Bldg Arthur Road, Tulsiwadi, Tardeo, Mumbai 400034

12. Rajesh Shah (PAN AMCPS0309L) having address at 60 A/3 479 Jariwali Bldg, Arthur Road Tulsiwadi, Tardeo, Mumbai 400034

13. Jaymani Joshi (PAN ACXPJ1278Q) having address at 42 A/3 479 Jariwali Bldg, Arthur Road Tulsiwadi Tardeo, Mumbai 400034

14. Sunrise Asian Ltd. (CIN:L51900MH1981PLC025740) having address at 133, Panchratna Opera House Mumbai Mumbai City MH 400004 and 205A Kapadia Chamber, 599 JSS Road Mumbai 400002

In the matter of Sunrise Asian Ltd.

BACKGROUND

1. Securities and Exchange Board of India (hereinafter referred to as “SEBI”) initiated adjudication proceedings against DCB Plus N Holdings LLP (“Noticee 1”), Liberal Realtors LLP (“Noticee 2”), Iceworth Realty LLP (“Noticee 3”), Dinesh Shah (“Noticee 4”), Bina Shah (“Noticee No. 5”), Geeta M Joshi (“Noticee No. 6”), Kanaiyalal Joshi (“Noticee No. 7”), Mahesh K Joshi (“Noticee No. 8”), Mayank Joshi (“Noticee No. 9”), Mukesh Chauhan (“Noticee No. 10”), Nilesh Chauhan (“Noticee No. 11”), Rajesh Shah (“Noticee No. 12”) and Jaymani Joshi (“Noticee No. 13”) and Sunrise Asian Ltd. (hereinafter referred to as “Noticee No.14” or “SAL” or “the Company”), for alleged violation of provisions of the SEBI (Prohibition of Insider Trading) Regulations, 1992 (hereinafter referred to as the “PIT Regulations 1992”) read with the SEBI (Prohibition of Insider Trading) Regulations 2015 (hereinafter referred to as the “PIT Regulations 2015”), and the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (hereinafter referred to as the “SAST Regulations”), Section 21 of the Securities Contracts (Regulation) Act, 1956 (hereinafter referred to as “the SCRA”) read with Clause 35 of the Listing Agreement and Regulation 103(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter referred to as the “LODR Regulations”).

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