sebi:Order/GR/BM/2023-24/28337
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Noticee held liable for participation in fraudulent GDR scheme in violation of PFUTP Regulations
Provisions invoked
- s. 15
- s. 12A
- s. 12
- s. 15H
- s. 15J
- s. 28A
- s. 376
Regulations
- Reg. 2(c)
- Reg. 3
- Reg. 200
- Reg. 3(a)
Parties
- Arun Panchariya
Holding
Arun Panchariya, as Managing Director of Vintage FZE who signed the EURAM Bank loan to subscribe to Zenith Birla (India) Limited GDRs, acted in connivance with the issuer and bank in a pre-planned fraudulent GDR issue in violation of the PFUTP Regulations.
Full text
Adjudication Order in respect of Arun Panchariya in the matter of GDR Issue by Zenith Steel Pipes & Industries Limited [erstwhile Zenith Birla (India) Limited] P a g e 2 | 44
Adjudication Order in respect of Arun Panchariya in the matter of GDR Issue by Zenith Steel Pipes & Industries Limited [erstwhile Zenith Birla (India) Limited] P a g e 3 | 44
Adjudication Order in respect of Arun Panchariya in the matter of GDR Issue by Zenith Steel Pipes & Industries Limited [erstwhile Zenith Birla (India) Limited] P a g e 4 | 44
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/GR/BM/2023-24/28337. 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.