Revocation order in respect of Eco Friendly Food Processing park Limited and Others

WTM/AS/IVD/ID3/29814/2023-24 SECURITIES AND EXCHANGE BOARD OF INDIA ORDER UNDER SECTION 11, 11(4) AND 11B OF SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 IN THE MATTER OF DEALINGS IN THE SHARES OF ECO FRIENDLY FOOD PROCESSING PARK LIMITED, ESTEEM BIO ORGANIC FOOD PROCESSING LIMITED, CHANNEL NINE ENTERTAINMENT LIMITED AND HPC BIOSCIENCES LIMITED. In respect of – S. NO. NAME OF THE ENTITY PAN 1. Dinesh Kumar Jindal AAIPJ3373K 2. Neena Sood AUGPS4373N 3. Vinod Kumar Garg AAAPG4116B 4. Neeraj Mittal AAFPM8349F 5. Sakshi Saxena BLRPS4522G 6. Arun Kumar Gupta AAKPG5996K (The above mentioned entities are individually referred to by their respective names/Entity numbers and collectively as “Entities”) 1. Securities and Exchange Board of India (hereinafter referred to as “SEBI”), vide ad interim ex parte Order dated June 29, 2015 read with Corrigendum Order dated January 04, 2016 (hereinafter collectively referred to as “interim orders”), inter alia, restrained 254 entities including the Entities from accessing the securities market and further prohibited them from buying, selling or dealing in securities, either directly or indirectly, in any manner, till further directions. The said interim orders were issued, pending inquiry/investigation and passing of final order, in the matter of dealing in the shares of Eco Friendly Food Processing Park Limited (hereinafter referred to as "Eco"), Esteem Bio Organic Food Processing Limited (hereinafter referred to as “Esteem"), Channel Nine Entertainment Limited (hereinafter referred to as "CNE") and HPC Biosciences Limited (hereinafter referred to as "HPC") [collectively referred to as “the scrips/the companies"].

2. The directions issued through the interim orders were confirmed vide confirmatory orders dated February 17, 2016, June 14, 2016, August 25, 2016, October 27, 2016 and June 15, 2017 with certain modifications/ relaxations/ reliefs.

3. Pursuant to the same, a detailed investigation was carried out by SEBI to look into the role of the debarred entities in the matter of dealings in the shares of the above mentioned four scrips.

4. I note that the directions issued against the Entities vide the interim orders, were interim in nature and were issued on the basis of prima facie findings. SEBI had issued directions vide the interim orders in order to protect the interests of investors in the securities market. Upon completion of the aforesaid investigation, no adverse observation/finding has been found against these Entities, so as to sustain the continuance of the directions issued vide the interim orders and thus, the said directions need not be continued.

5. In view of the same, I, in exercise of the powers conferred upon me under Section 19 read with Sections 11, 11(4) and 11B of the SEBI Act, hereby, revoke the directions issued vide the interim orders qua the Entities with immediate effect.

6. The Order shall be served on the Entities. A copy of this Order shall also be sent to the Stock Exchanges and Depositories for their information and necessary action.

Sd/- DATE: December 08, 2023 AMARJEET SINGH PLACE: MUMBAI WHOLE TIME MEMBER SECURITIES AND EXCHANGE BOARD OF INDIA