Order: In the Matter of 2196768 Ontario Ltd carrying on business as RARE Investments et al.

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

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IN THE MATTER OF 2196768 ONTARIO LTD
carrying on business as RARE INVESTMENTS,
RAMADHAR DOOKHIE, ADIL SUNDERJI
and EVGUENI TODOROV


ORDER

    WHEREAS on November 22, 2011, the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing in relation to a Statement of Allegations filed by Staff of the Commission (“Staff”) on that date pursuant to sections 127 and 127.1 of the Securities Act, R.S.O. 1990, c. S.5, as amended, in respect of 2196768 Ontario Ltd carrying on business as RARE Investments (“RARE”), Ramadhar Dookhie (“Dookhie”), Adil Sunderji (“Sunderji”) and Evgueni Todorov (“Todorov”) (collectively, the “Respondents”), for a hearing to commence on December 5, 2011;

    AND WHEREAS at a hearing on December 5, 2011, counsel for Staff advised that disclosure will be made to the Respondents by Staff on or by January 16, 2012 and the parties consented to the scheduling of a confidential pre-hearing conference on March 5, 2012;

    AND WHEREAS on March 1, 2012, with the consent of Staff, the Commission ordered that the confidential pre-hearing conference scheduled for March 5, 2012 be adjourned to May 2, 2012 to permit two of the Respondents to retain separate legal counsel;

    AND WHEREAS the parties attended on May 2, 2012, and Staff advised that disclosure was complete and two of the Respondents advised they had not yet retained legal counsel;

    AND WHEREAS on May 2, 2012, the Commission ordered that a confidential pre-hearing conference be held on July 19, 2012;

    AND WHEREAS the parties attended on July 19, 2012, and the Commission ordered that the confidential pre-hearing conference be adjourned to September 14, 2012 to permit two of the Respondents to obtain legal counsel and to canvass dates for the hearing on the merits;

    AND WHEREAS the parties attended on September 14, 2012, and the Commission ordered that the hearing on the merits shall commence on Monday, March 18, 2013 and continue on March 19, 20, 21, 22, 25, 27 and 28, 2013;

    AND WHEREAS on March 13, 2013, Todorov requested an adjournment to retain legal counsel, counsel for Staff made submissions with respect to Todorov’s request for an adjournment and the Commission ordered that:

    1.     the hearing on the merits be adjourned on a peremptory basis as against Todorov;

    2.     the hearing dates of March 18, 19, 20, 21, 22, 25, 27 and 28, 2013 be vacated; and

    3.     the hearing on the merits begin on Wednesday, May 22, 2013 at 10:00 a.m. and continue on May 23, 24, 27, 28, 29, 30 and 31, 2013;

    AND WHEREAS on March 15, 2013, the Commission approved a Settlement Agreement, dated March 13, 2013, between Staff and Sunderji;

    AND WHEREAS the Commission conducted the hearing on the merits in respect of the remaining respondents RARE, Dookhie and Todorov (the “Remaining Respondents”) on May 22, 23, 24 and 27, 2013;

    AND WHEREAS on May 27, 3013, the Commission ordered that:

    1.     the hearing dates of May 28, 29, 30 and 31, 2013 be vacated;

    2.     Staff shall serve and file written closing submissions on or by Friday, June 28, 2013;

    3.     the Remaining Respondents shall serve and file written closing submissions on or by Friday, August 9, 2013;

    4.     Staff shall serve and file any written reply on or by Tuesday, August 20, 2013; and

    5.     the hearing on the merits shall continue on Thursday, September 5, 2013 at 10:00 a.m. for the purpose of hearing oral closing submissions from the parties;

    AND WHEREAS on June 26, 2013, Staff served and filed written closing submissions;

    AND WHEREAS on August 8, 2013, counsel to Dookhie informed Staff by correspondence sent by fax that he would not be able to serve and file written closing submissions by August 9, 2013 and expects to serve and file written closing submissions in the week of August 12, 2013;

    AND WHEREAS on August 9, 2013, Staff forwarded counsel to Dookhie’s August 8, 2013 correspondence to the Office of the Secretary;

    AND WHEREAS on August 9, 2013, Staff indicated that if the Remaining Respondents' written closing submissions are not served and filed by August 9, 2013, it would not be possible for Staff to file any written reply on or by August 20, 2013 and in order to preserve September 5, 2013 as the hearing date for closing oral submissions, Staff proposes to make any reply submissions orally on September 5, 2013, without waiving the right of Staff to seek leave of the Panel to file a written reply at a later date;

    AND WHEREAS the Commission considers it to be in the public interest to make the following order;

    IT IS HEREBY ORDERED that:

    1.     the Remaining Respondents shall serve and file any written closing submissions on or by Friday, August 16, 2013 at 4:30 p.m., which date will not be subject to further extension;

    2.     Staff shall serve and file their written reply, if any, on or by Tuesday, September 3, 2013 at 4:30 p.m.; and

    3.     the hearing on the merits shall continue on Thursday, September 5, 2013 at 10:00 a.m. for the purpose of hearing oral closing submissions from the parties.

    DATED at Toronto this 12th day of August, 2013.