SEBI Adjudication Order against Shri A.B. Satyavas Reddy in the matter of Bartronics India Limited


  1. Securities and Exchange Board of India (hereinafter referred to as ˜SEBI™) conducted an investigation in the matter of Bartronics India Limited (hereinafter referred to as ˜BIL™), a company listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), for the period from June 16, 2010 to September 30, 2010 to ascertain whether there was any violation of the provisions of the SEBI Act and various Rules and Regulations made there under.
  2. The investigation revealed that Shri A.B Satyavas Reddy (hereinafter referred to as the ‘Noticee’) had transferred 400532 shares of BIL from his demat account to the demat account of one Shri Raghu Daripalli on January 13, 2009 in off-market transaction. The Noticee is the promoter and director of BIL during the relevant period. The said transaction was treated as Pledge which was even disclosed by BIL to the stock exchanges in the quarterly shareholding pattern for the quarter ended March 31, 2009. This transaction

The full order is available for download here.

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