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THE SECURITIES ACT |
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Order No. 7254 |
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Sections 148, 19(5), 148.3, and 8 |
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December 16, 2015 |
1415409 ONTARIO INC., RAVINDRA DAVE,
AND CHANDRAMATTIE DAVE
WHEREAS:
(A) On August 27, 2015, the Ontario Securities Commission (“OSC”) issued an order against 1415409 Ontario Inc., Ravindra Dave and Chandramattie Dave (“OSC Order”);
(B) On October 29, 2015, The Manitoba Securities Commission (“Commission”) issued a Notice of Hearing (“Notice”) giving notice of its intention to hold a hearing to consider whether or not it was in the public interest to grant orders pursuant to The Securities Act, R.S.M. 1988 c. S50 as amended (“Act”) with respect to 1415409 Ontario Inc. (“1415409”), Ravindra Dave also known as Dave Ravindra (“RAVINDRA”) and/or Chandramattie Dave also known as Rita Bahadur (“CHANDRAMATTIE”);
(C) On December 16, 2015, this hearing matter came before a panel of the Commission;
(D) Upon reviewing the documentary evidence and hearing the submissions of counsel for staff of the Commission, no one appearing for the respondents, and upon reviewing the Affidavits of Service, filed, and being satisfied as to service upon the respondents, the Commission is of the opinion that it is in the public interest to make this order.
IT IS ORDERED:
1. THAT, pursuant to section 148 of the Act, 1415409 and CHANDRAMATTIE cease trading in securities or derivatives permanently.
2. THAT, pursuant to section 148 of the Act, RAVINDRA cease trading in securities or derivatives up to and including August 27, 2035.
3. THAT, pursuant to subsection 19(5) of the Act, subsection 19(1) of the Act, with respect to such of the trades referred to in that subsection, and subsection 19(2) of the Act, with respect to such of the securities referred to in that subsection, do not apply to 1415409 and CHANDRAMATTIE permanently.
4. THAT, pursuant to subsection 19(5) of the Act, subsection 19(1) of the Act, with respect to such of the trades referred to in that subsection, and subsection 19(2) of the Act, with respect to such of the securities referred to in that subsection, do not apply to RAVINDRA up to and including August 27, 2035.
5. THAT, pursuant to section 148.3 of the Act, CHANDRAMATTIE resign any positions that she holds as a director or officer of an issuer and be prohibited from becoming or acting as a director or officer of any issuer permanently.
6. THAT, pursuant to section 148.3 of the Act, RAVINDRA resign any positions he holds as a director or officer of an issuer and be prohibited from becoming or acting as a director or officer of any issuer up to and including August 27, 2035.
7. THAT, pursuant to section 8 of the Act, CHANDRAMATTIE be prohibited from becoming or acting as a registrant permanently.
8. THAT, pursuant to section 8 of the Act, RAVINDRA be prohibited from becoming or acting as a registrant up to and including August 27, 2035.
9. THAT, until the Director of the Commission has received confirmation that the entire amount of the payments set out in paragraphs 26, 27, and 28 of the OSC Order have been paid in full to the OSC, the provisions of the orders above as against RAVINDRA shall continue in force without any limitation as to time period.
BY ORDER OF THE COMMISSION
Director