0187-2018 Ramaswamy Kuchana vs SEBI
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obtained from Securities and Exchange Commission, USA, circular movement of funds between TSL and its clients and vendors (mentioned at Sl. No 1 to 10 in the table above) have been brought out in the SCN. TSL utilised the IPO money to make transfer of funds to its vendors and part of it came back to it in the garb of receipts from clients. After receipt of the IPO money, TSL utilised them to repay the loan amount of ` 34.50 crore raised by it through ICD from different entities during May 2011, June 2011 and September 2011. From the amounts raised through ICD, an amount of
BEFORE THE SECURITIES APPELLATE TRIBUNAL
MUMBAI
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Source: SecMarx — 0187-2018 Ramaswamy Kuchana vs SEBI. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.