IN THE MATTER OF
THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
IN THE MATTER OF
TULSIANI INVESTMENTS INC.
AND SUNIL TULSIANI
Section 127(1) & 127(5)
WHEREAS it appears to the Ontario Securities Commission (the "Commission") that:
1. Tulsiani Investments Inc. ("Tulsiani Investments") is an Ontario corporation with a registered head office in Brampton, Ontario and has never been a reporting issuer in Ontario or registered to trade in securities in Ontario;
2. Sunil Tulsiani is an Ontario resident who is not registered to trade in securities in Ontario;
3. Tulsiani Investments and Sunil Tulsiani (collectively, "the Respondents") may have participated in the solicitation of investments to Ontario residents totalling approximately $1.7 million;
4. The Respondents may have traded in securities without being registered to do so and without exemptive relief, contrary to sections 25 and 53 of the Ontario Securities Act, R.S.O. 1990, c. S.5 (the "Act");
AND WHEREAS the Commission is of the opinion that the time required to conclude a hearing could be prejudicial to the public interest as set out in section 127(5) of the Act;
AND WHEREAS the Commission is of the opinion that it is in the public interest to make this order;
AND WHEREAS by Authorization Order dated June 24, 2009, pursuant to subsection 3.5(3) of the Act, each of W. David Wilson, James E. A. Turner, Lawrence E. Ritchie, David L. Knight, Carol S. Perry and Patrick J. LeSage acting alone, is authorized to exercise the powers of the Commission under the Act, subject to subsection 3.5(4) of the Act, to make orders under section 127(1) and 127(5) of the Act.
IT IS ORDERED pursuant to clause 2 of subsection 127(1) of the Act that all trading by the Respondents shall cease.
IT IS FURTHER ORDERED pursuant to clause 2 of subsection 127(1) of the Act that all trading in securities of the Respondent, Tulsiani Investments Inc., shall cease.
IT IS FURTHER ORDERED that pursuant to clause 3 of subsection 127(1) of the Act that the exemptions contained in Ontario securities law do not apply to the Respondents.
IT IS FURTHER ORDERED that pursuant to subsection 127(6) of the Act this order shall take effect immediately and shall expire on the fifteenth day after its making unless extended by the Commission.
DATED at Toronto this 26th day of June, 2009.