sebi:MO/48/IVD/1/04
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Facts / Headnote
RFSL restrained from accessing the securities market and prohibited from buying, selling or dealing in securities for a period of three years from the date of the order with immediate effect.
Provisions invoked
- s. 11B
- s. 11
- s. 11(4)
- s. 19
Parties
- M/s Rajashree Fiscal Services Ltd
Holding
RFSL, as post-issue lead manager in the public issue of Saatal Kattha and Chemicals Ltd, was held guilty of failing to exercise due diligence and was restrained from accessing the securities market for three years.
Full text
Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ Background 1. M/s Saatal Kattha and Chemicals Ltd (hereinafter referred to as "SKCL") having office at 42, Jaora Compound, M.Y Hospital Road, Indore – 452 001, came out with a public issue of 21,50,000 equity shares of Rs. 20/- each aggregating to Rs. 4,30,00,000. The public issue opened for public subscription on 30.1.95 and closed on 2.2.95. Central bank of India acted as a pre-issue lead manager and M/s Rajashree Fiscal Services Ltd (hereinafter referred to as RFSL) acted as the post issue Lead Manager and M/s Sriven Corporate Services Pvt Ltd (hereinafter referred to as SCSPL) acted as the Registrar to the said public issue.
Place: MUMBAI SECURITIES AND EXCHANGE BOARD OF INDIA Firefox https://www.sebi.gov.in/enforcement/orders/jan-2004/order-against-m-s-... 2 of 2 17-10-2025, 10:16
branches. The said certificate did not indicate any collection received from NRI’s. 7. In the interest of natural justice, an opportunity of hearing was granted to RFSL before me on 09.12.03. However, RFSL failed to avail the same. I am convinced that ample opportunity has been given to RFSL to make submissions and I proceed further based on the material available on record.
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Source: SecMarx — sebi:MO/48/IVD/1/04. 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.