sebi:Order/MC/VS/2022-23/16591
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Facts / Headnote
PFUTP fraud/device allegation regarding preferential allotment held not established; violation of Clause 43 of Listing Agreement read with Regulation 32 of LODR Regulations and Regulation 30 of LODR Regulations held established against Tirupati Fincorp Ltd.
Provisions invoked
- s. 15
- s. 15H
- s. 173(2)
- s. 15J
- s. 372
- s. 23J
- s. 23
- s. 23E
- s. 45
Regulations
- Reg. 3
- Reg. 4
- Reg. 3(a)
- Reg. 3(b)
- Reg. 30
- Reg. 32
Holding
The allegation that the preferential allotment was a fraudulent device or scheme to give a fraudulent impression of capital infusion was not established, but Tirupati Fincorp Ltd. violated Clause 43 of the Listing Agreement read with Regulation 32 of the LODR Regulations and Regulation 30 of the LODR Regulations.
Full text
Adjudication Order in respect of Tirupati Fincorp Ltd. in the matter of Tirupati Fincorp Ltd. Page 2 of 50 APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in respect of Tirupati Fincorp Ltd. in the matter of Tirupati Fincorp Ltd. Page 3 of 50 from January 2013. The registered address of the company is PN-1, Telephone Colony Tonk Phatak, Jaipur, Rajasthan- 302 015. The company is listed at BSE since March 2015. However, the present status of listing as per BSE website is: “Trading Restricted - On account of GSM, Suspended due to Penal reasons, Suspended - Surveillance Measure”.
Adjudication Order in respect of Tirupati Fincorp Ltd. in the matter of Tirupati Fincorp Ltd. Page 4 of 50 in terms of Section 173(2) of the Companies Act, 1956 under the head: “Disclosures prescribed under the SEBI ICDR Regulations, 2009, set out the following as the objects of the preferential issue:
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Source: SecMarx — sebi:Order/MC/VS/2022-23/16591. 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.