sebi:ORDER/GR/RR/2020-21/10802-10805
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Charge of non-disclosure of material information in the Prospectus established; penalty imposed of Rs. 2,00,000 (Rupees Two Lakh Only) on the Noticees
Provisions invoked
- s. 15
- s. 12A
- s. 12
- s. 15H
- s. 15J
- s. 28A
Regulations
- Reg. 3
- Reg. 47
- Reg. 3(a)
- Reg. 55
- Reg. 57(1)
- Reg. 59
Parties
- Alok Jain Tijaria
- Vineet Jain Tijaria
- Vikas Jain Tijaria
- Praveen Jain Tijaria
Holding
The Noticees violated Regulation 57(1) and 57(2) read with Schedule VIII, Part A(16) of the ICDR Regulations by failing to disclose in the Prospectus the material decision (Board Resolution dated September 10, 2011) to raise funds through Inter-Corporate Deposits (ICDs) which constituted approximately 20.8% of the issue size. A penalty of Rs. 2,00,000 was imposed on the Noticees under Section 15HB of the SEBI Act.
Full text
Adjudication Order w.r.t Alok Jain Tijaria, Vineet Jain Tijaria, Vikas Jain Tijaria, Praveen Jain Tijaria in the matter of IPO of Tijaria Polypipes Ltd. Page 2 | 28
Adjudication Order w.r.t Alok Jain Tijaria, Vineet Jain Tijaria, Vikas Jain Tijaria, Praveen Jain Tijaria in the matter of IPO of Tijaria Polypipes Ltd. Page 3 | 28
Adjudication Order w.r.t Alok Jain Tijaria, Vineet Jain Tijaria, Vikas Jain Tijaria, Praveen Jain Tijaria in the matter of IPO of Tijaria Polypipes Ltd. Page 4 | 28
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