sebi:ORDER/BM/DS/2022-23/18147-18164
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalties imposed on Noticees for fraudulent IPO funding scheme and non-cooperation with investigation
Provisions invoked
- s. 11
- s. 15A
- s. 15
- s. 19
- s. 11(3)
- s. 12A
- s. 21
- s. 15H
- s. 27
- s. 12
- s. 15J
- s. 11C(6)
- s. 28A
- s. 23
- s. 23E
- s. 23A
Regulations
- Reg. 2(c)
- Reg. 3
- Reg. 4(1)
- Reg. 200
- Reg. 2
- Reg. 3(a)
- Reg. 3(c)
- Reg. 2(1)
- Reg. 57(1)
- Reg. 106P
- Reg. 14(1)
- Reg. 4(2)(c)
- Reg. 2(1)(c)(5)
Holding
Noticees 1 to 12, 14, 15 and 16 acted collusively to devise a fraudulent scheme to achieve minimum subscription in ECO's IPO through funding group entities, violating PFUTP Regulations and SEBI Act. Noticees 1, 4 and 16 also violated Section 11(3) and 11C(3) of SEBI Act by failing to comply with SEBI summons.
Full text
_________________________________________________________________________ Adjudication Order in the matter of IPO of ECO Friendly Food Processing Park Limited
_________________________________________________________________________ Adjudication Order in the matter of IPO of ECO Friendly Food Processing Park Limited
_________________________________________________________________________ Adjudication Order in the matter of IPO of ECO Friendly Food Processing Park Limited
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:ORDER/BM/DS/2022-23/18147-18164. 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.