sebi:Order/AN/PR/2025-26/31502
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Provisions invoked
- s. 11B
- s. 11
- s. 15
- s. 19
- s. 15H
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 8(2)
- Reg. 201
- Reg. 32
- Reg. 30
- Reg. 15(1)
- Reg. 245
- Reg. 32(2)
Parties
- Gretex Corporate Services Limited
Holding
On the excerpt available, the Adjudicating Officer rejects the Noticee's claim that IPO proceeds were fully utilized on payment of INR 2.55 Crore to B-Right and holds that refunded/redeployed proceeds via fixed deposit, loan/equity in Sunview Nirman Private Limited and purchase of real estate required statement of deviation under Regulation 32 and detailed disclosure under Regulation 30.
Full text
Adjudication Order in the matter of Gretex Corporate Services Limited (as Listed Company) |Page 2 of 33 B. APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in the matter of Gretex Corporate Services Limited (as Listed Company) |Page 3 of 33 C. SHOW CAUSE NOTICE, REPLY AND HEARING
Adjudication Order in the matter of Gretex Corporate Services Limited (as Listed Company) |Page 4 of 33 Vide email dated December 24, 2024, Noticee acknowledged the receipt of the SCN. Vide email dated January 06, 2025, Noticee requested for inspection of documents. In this regard, vide email dated January 06, 2025, Noticee was provided with an opportunity to inspect the documents on January 10, 2025. The Noticee availed the opportunity of Inspection of documents on the scheduled date viz. January 10, 2025. Further, vide emails dated April 30, 2025, Noticee was provided with documents, as sought vide its letter dated April 17, 2025. In the interest of principles of natural justice, vide Hearing Notice dated April 03, 2025, an opportunity of hearing was afforded to the Noticee on April 23,
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Source: SecMarx — sebi:Order/AN/PR/2025-26/31502. 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.