sebi:Order/JS/N./2022-23/18728-18730

SEBI · SEBI · 2021-08-05 · Jai Sebastian, Adjudicating Officer

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Facts / Headnote

Violation established against Noticees; monetary penalty of Rs.3,30,16,822 imposed under section 15HA of SEBI Act, with finding on Clause 43 of Listing Agreement / section 23E of SCRA subject to outcome of Supreme Court appeal.

Provisions invoked

s. 11
s. 15
s. 12A
s. 21
s. 15H
s. 27
s. 12
s. 15J
s. 15F
s. 28A
s. 23
s. 23E
s. 23A
s. 238
s. 23B

Regulations

Reg. 3
Reg. 2(1)(c)
Reg. 4(1)
Reg. 4(2)
Reg. 4(2)(f)
Reg. 200
Reg. 3(b)
Reg. 2(1)
Reg. 32

Parties

Triveni Enterprises Ltd.
Bhavin Hemendra Nagda
Ramchandra Ramhit Varma

Holding

Noticee-1 misutilised preferential issue proceeds for corporate lending under guise of stated objects and concealed variation, violating section 12A(a)(b)(c) read with regulations 3 and 4 of PFUTP Regulations. Penalty of Rs.3,30,16,822 under section 15HA is imposed.

Full text

_____________________________________________________________________________________ Adjudication Order in the matter of misutilisation of funds raised through preferential issue by Triveni Enterprises Ltd.

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Source: SecMarx — sebi:Order/JS/N./2022-23/18728-18730. 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.