sebi:Order/AA/MG/2019-20/6610-6614
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Facts / Headnote
Adjudication proceedings initiated for violation of ICDR Regulations; violations of Regulations 57 & 59 found not established; Regulations 4(2) & (7), 5, 6, 20(1), 25, 26, 36, 37 and 46 found applicable to the OFCD issuance
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15I
- s. 15J
- s. 15F
- s. 28A
- s. 4A
- s. 15I(1)
- s. 67(3)
- s. 67
- s. 117B
- s. 56
- s. 67(1)
- s. 67(2)
- s. 56(1)
- s. 117C
- s. 56(3)
- s. 42
- s. 33(1)
Regulations
- Reg. 6
- Reg. 34
- Reg. 57
- Reg. 200
- Reg. 4(2)
- Reg. 25
- Reg. 5
- Reg. 32
- Reg. 51A
- Reg. 59
- Reg. 20(1)
- Reg. 36
- Reg. 37
- Reg. 46
Parties
- Sunshine India Land Developers Limited
Holding
The Noticee's issuance of OFCDs to 23,757 persons qualifies as a public issue under the first proviso to Section 67(3) of the Companies Act, 1956, making Regulations 4(2) & (7), 5, 6, 20(1), 25, 26, 36, 37 and 46 of the ICDR Regulations applicable. However, the allegations of violation of Regulations 57 and 59 of the ICDR Regulations do not stand established against the Noticees.
Full text
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Source: SecMarx — sebi:Order/AA/MG/2019-20/6610-6614. 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.