sebi:MO/131/IVD/11/04
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Disposed of without imposing any penalty; matter disposed off accordingly.
Regulations
- Reg. 13(2)
- Reg. 13(a)(i)
Parties
- Union Bank of India
Holding
The Whole Time Member held that the facts and circumstances of the case did not merit imposition of any penalty on Union Bank of India, the Lead Manager/Merchant Banker, in the matter of Vikas WSP Ltd., and disposed of the matter accordingly.
Full text
Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ Order Against Union Bank Of India Nov 01, 2004 | Orders : Orders of Chairman/Members MO/131/IVD/11/04 SECURITIES AND EXCHANGE BOARD OF INDIA
8. VWL had come out with a public issue of 44,86,500 equity shares at par, which closed for subscription on 17.12.1993. As per the prospectus, out of the 39,88,200 shar allotted to the promoters, 24,92,490 shares, being 25% of the total post issue capital were to be locked-in for 5 years and the balance 14,95,710 shares were to be locked period of 3 years from the date of allotment or commencement of commercial production, whichever was later.
recommended imposition of minor penalty of WARNING on the Lead Manager, under regulation 13(a)(i) of SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:MO/131/IVD/11/04. 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.