Proceedings

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IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S.5, AS AMENDED

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IN THE MATTER OF RAJEEV THAKUR

NOTICE OF HEARING


      TAKE NOTICE THAT the Ontario Securities Commission (the "Commission") will hold a hearing pursuant to sections 127 and 127.1 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the "Act") at the offices of the Commission, 20 Queen Street West, 17th Floor, Large Hearing Room, commencing on February 12, 2009 at 10:00 a.m. or as soon thereafter as the hearing can be held;

      AND FURTHER TAKE NOTICE the purpose of the hearing is to consider whether it is in the public interest for the Commission to make an order that:

(a) pursuant to clause 2 of subsection 127(1), trading in any securities by the Respondent cease permanently or for such other period as specified by the Commission;

(b) pursuant to clause 2.1 of subsection 127(1), acquisition of any securities by the Respondent is prohibited, permanently or for the period specified by the Commission;

(c) pursuant to clause 3 of subsection 127(1), any exemptions contained in Ontario securities law do not apply to the Respondent permanently or for such other period as specified by the Commission;

(d) pursuant to clause 6 of subsection 127(1), the Respondent be reprimanded;

(e) pursuant to clause 7 of subsection 127(1), the Respondent resign one or more positions he holds as a director or officer of an issuer;

(f) pursuant to clause 8 of subsection 127(1), the Respondent be prohibited from becoming or acting as a director or officer of any issuer;

(g) pursuant to clause 9 of subsection 127(1), the Respondent pay an administrative penalty of not more than $1 million for each failure to comply with Ontario securities law to the Commission;

(h) pursuant to clause 10 of subsection 127(1), the Respondent disgorge to the Commission any amounts obtained as a result of non-compliance with securities law;

(i) pursuant to section 127.1, the Respondent pay the costs of the investigation and the costs of or related to the hearing incurred by or on behalf of the Commission; and,

(j) such other order as the Commission may consider appropriate.

      BY REASON OF the allegations set out in the Statement of Allegations of Staff dated January 9, 2009 and such additional allegations as counsel may advise and the Commission may permit;

      AND FURTHER TAKE NOTICE that any party to the proceeding may be represented by counsel if that party attends or submits evidence at the hearing.

      AND FURTHER TAKE NOTICE that if the Respondent to the proceedings fails to attend, the hearing may proceed in the absence of the party and the party is not entitled to any further notice of the proceeding.

      AND TAKE FURTHER NOTICE that upon failure of any party to attend at the time and place aforesaid, the hearing may proceed in the absence of that party and such party is not entitled to any further notice of the proceeding.

      DATED at Toronto this 9th day of January, 2009



" Daisy Aranha "
Per: John Stevenson
Secretary to the Commission


          TO:    Rajeev Thakur
                    c/o Mr. Seth Weinstein
                    15 Bedford Road
                    Toronto, Ontario
                    M5R 2J7