sebi:Order/MC/DS/2020-2021/9625

SEBI · SEBI · 2020-05-28 · Maninder Cheema, Adjudicating Officer

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Facts / Headnote

Proceedings disposed of without imposition of penalty; violations not established against the Noticee.

Provisions invoked

• s. 15H
• s. 15J

Regulations

• Reg. 3(a)
• Reg. 3(a)(b)(c)
• Reg. 32

Parties

• Sachin Somaiya

Holding

The adjudication proceedings against the Noticee, Sachin Somaiya, an independent director of Aplaya Creations Limited, are disposed of without imposition of penalty as the alleged violations of PFUTP Regulations are not established against him.

Full text

Adjudication Order in the matter of Aplaya Creations Limited Page 2 of 18 SHOW CAUSE NOTICE, REPLY AND HEARING 3. Show Cause Notice No. EAD5/MC/DPS/10698/2020 dated May 28, 2020 (hereinafter be referred to as, the “SCN”) was served upon the Noticee under Rule 4(1) of the Adjudication Rules to show cause as to why an inquiry should not be held and penalty be not imposed against him under Section 15HA of SEBI Act, 1992, for the aforesaid alleged violations.

Adjudication Order in the matter of Aplaya Creations Limited Page 3 of 18 Sr. No. DIN/PAN Name of Director Designation Date of appointment Date of cessation 2 NA Balkrishna Salunkhe Director 15/01/2011 20/03/2013 3 NA Rajendra Salunkhe Director 15/01/2011 20/03/2013 4 02103774 Bhagwan Das Agarwal Non- Executive Director 20/03/2013 12/02/2014 5 06365578 Ramawtar Gupta Executive director 08/02/2013 06/07/2017 6 02108574 Preeti Agarwal Independent Director 28/12/2012 12/02/2014 7 00561590 Sachin Somaiya Independent Director 28/12/2012 30/05/2017 8 05300735 / ABRPG4589 Q Pramod Kumar Gupta Executive Director 08/02/2013 06/07/2017 9 03581144 Akhil Agarwal Managing Director (Resigned w.e.f 5/09/2013) 10/07/2013 05/09/2013 10 06636039 Sohanlal Agrawal Independent Director- non executive director 12/02/2014 14/08/2014 NA- Not available

Adjudication Order in the matter of Aplaya Creations Limited Page 4 of 18 First preferential Allotment Second Preferential Allotment Number of entity(s) 47 non-promoter entities One promoter entity and 46 non- promoter entities Date of Board resolution March 21, 2013 July 31, 2013 Date of general meeting approving the issue u/s 81(1A) April 19, 2013 August 31, 2013 Date of allotment May 02, 2013 September 13, 2013 Actual shares were allotted 67,30,000 73,80,000 Amount received Rs. 10.09 Cr Rs. 11.07 Cr Object of the preferential allotment as per “Funds raised through the present issue are proposed to be utilized:

Source: SecMarx — sebi:Order/MC/DS/2020-2021/9625. 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.