TH t:. MANITODA
se CURIT IES
THE SECURITIES ACT
Order No. 6545
C O MM ISSIDN
Sections 148 and 148.3
June 20, 2012
AJIT SINGH BASI
WHEREAS:
(A)
On
December
22,
2011 ,
the
British
Columbia
Securities
Commission ("BCSC") issued a decision ("BCSC Decision") against Ajit Singh
Basi ("BASI");
(B)
On
May
4,
2012,
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 section 148.4 of The Securities Act, R.S.M.
1988, c. S50 as amended ("Act") with respect to BASI;
(C)
On June 20, 2012, the hearing proceeded 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
respondent, and upon reviewing the Affidavit of Service, filed, and being
satisfied as to service upon the respondent, 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, BASI cease trading in
securities permanently.
2.
THAT, pursuant to section 148.3 of the Act, BASI resign any
position he holds as a director or officer of any issuer and be prohibited from
becoming or acting as a director or officer of any issuer permanently.
BY ORDER OF THE COMMISSION
Deputy Director
SOO·4il(l SI. "I~ry AVl;mu<', Winnipt').i , Milf\itob.'1 R]C 41:$ .~I: (204) 945 .2.)48 fax: (2(14) 945033U www.msq,ov.mll.ca
You are being directed to the most recent version of the statute which may not be the version considered at the time of the judgment.