sebi:Order/SRP/AE/2018-19/2437
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Facts / Headnote
Penalty imposed on the Noticee for violation of Section 12A(a), (b), (c) of SEBI Act, 1992 read with Regulations 3(a), (b), (c), (d) and 4(1) of PFUTP Regulations
Provisions invoked
- s. 15
- s. 12A
- s. 15H
- s. 372A
- s. 12
- s. 15J
- s. 376
Regulations
- Reg. 2(c)
- Reg. 3
- Reg. 2(1)(c)
- Reg. 200
- Reg. 3(a)
- Reg. 3(d)
- Reg. 3(b)
- Reg. 3(c)
Parties
- Mr. Mahesh Chand Mittal
Holding
The Adjudicating Officer held that the Noticee, Mr. Mahesh Chand Mittal, was a party to a fraudulent GDR issuance scheme by Sybly Industries Ltd, in which GDR subscription was facilitated through a loan to Vintage FZE secured by pledging the GDR proceeds, and imposed a penalty of Rs. 20,00,000.
Full text
Adjudication Order in respect of Mr. Mahesh Chand Mittal in the matter of GDR issue by Sybly Industries Ltd Page 2 of 29
Adjudication Order in respect of Mr. Mahesh Chand Mittal in the matter of GDR issue by Sybly Industries Ltd Page 3 of 29
Adjudication Order in respect of Mr. Mahesh Chand Mittal in the matter of GDR issue by Sybly Industries Ltd Page 4 of 29
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Source: SecMarx — sebi:Order/SRP/AE/2018-19/2437. 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.