Addendum to Final Order in the matter of MPS Infotecnics Limited

Addendum to the Final Order in the matter of MPS Infotecnics Limited

WTM/AB/IVD/ID-4/7204/2019-20

Securities and Exchange Board of India

Addendum to the Final Order having Reference No. WTM/AB/IVD/ID-4/7171/2019- 20 dated March 06, 2020 in the matter of MPS Infotecnics Limited (formerly known as Visesh Infotecnics Limited).

1. Vide Final Order dated March 06, 2020 having reference no. WTM/AB/IVD/ID- 4/7171/2019-20 (“Final Order”) in the matter of was MPS Infotecnics Limited, it was directed that: a. “Noticee No. 1 shall continue to pursue the measures to bring back the outstanding amount of $ 8.90 million into its bank account in India. It is clarified that Noticee No. 3, Noticee No. 7 and all other present directors of Noticee No. 1 shall ensure the compliance of this direction by Noticee No. 1 and furnish a Certificate from a peer reviewed Chartered Accountant of ICAI along with necessary documentary evidences to SEBI, certifying the compliance of this direction.

b. Noticee No. 1 is restrained from accessing the securities market and further prohibited from buying, selling or dealing in securities, directly or indirectly, in any manner whatsoever or being associated with the securities market in any manner, whatsoever, till compliance with directions contained in para 58(a) above and thereafter, for an additional period of two years from the date of bringing back the money.

c. Clifford Capital Partners A.G.S.A (Noticee No. 2), Mr. Peeyush Agrawal (Noticee No. 3), Mr. Sanjiv Bhavnani (Noticee No. 4), Mr. S. N. Sharma (Noticee No. 5), Mr. Adesh Jain (Noticee No. 6), Mr. Karun Jain (Noticee No. 7) and Mr. Rajinder Singh (Noticee No. 8) are hereby restrained from accessing the securities market and further prohibited from buying, selling or otherwise dealing in securities including units of mutual funds, directly or indirectly, or being associated with the securities market in any manner, whatsoever, for a period of 5 years from the date of this order. During the period of restraint, the existing holding of securities including units of mutual funds of these Noticees shall also remain frozen.”

2. Subsequent to the issuance of the Final Order, it has been informed by NSE that Mr. Sanjiv Bhavani (Noticee no. 4) and Mr. Karun Jain (Noticee no. 7) are holding open positions in the Futures and Options segments as at the end of trading on March 06, 2020, which need to be closed.

3. In view of the above, Mr. Sanjiv Bhavani (Noticee no. 4) and Mr. Karun Jain (Noticee no. 7) may close the open positions in the Futures and Options segments on or before the expiry date of the respective contracts or within a period of two months from March 06, 2020, whichever is earlier. As per the directions of the Final Order dated March 06, 2020, fresh position shall not be allowed to be opened.

4. The concerned stock exchanges shall take note of the aforesaid direction and must strictly ensure that no fresh positions are created for these Noticees.

5. A copy of this Order shall be served upon the recognized Stock Exchanges for necessary compliance.

Sd/- Place: Mumbai ANANTA BARUA Date: March 12, 2020 WHOLE TIME MEMBER SECURITIES AND EXCHANGE BOARD OF INDIA