sebi:Order/VV/AK/2022-23/24146-24149
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Facts / Headnote
Violations established ex parte against Company/associated noticees for preferential allotment without consideration; Clause 36 Listing Agreement charge assessed under Section 23A(a) of SCRA and not Section 23E.
Provisions invoked
- s. 15
- s. 19
- s. 12A
- s. 15H
- s. 15J
- s. 28A
- s. 23
- s. 23E
- s. 21
- s. 23A
Regulations
- Reg. 3
- Reg. 6
- Reg. 3(a)
- Reg. 72(2)
- Reg. 77(1)
Parties
- Aadhaar Ventures India Limited
Holding
The Company allotted 134,52,48,000 equity shares to 31 allottees without receipt of consideration during January 15, 2013 to March 11, 2013 in a fraudulent fund-raising scheme, and non-disclosure under Clause 36 of the Listing Agreement attracts Section 23A(a) of SCRA and not Section 23E.
Full text
Adjudication Order with respect to 4 entities Page 2 of 26 in the matter of funding of preferential allottees by the company Aadhaar Ventures India Limited.
Adjudication Order with respect to 4 entities Page 3 of 26 in the matter of funding of preferential allottees by the company Aadhaar Ventures India Limited.
Adjudication Order with respect to 4 entities Page 4 of 26 in the matter of funding of preferential allottees by the company Aadhaar Ventures India Limited.
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Source: SecMarx — sebi:Order/VV/AK/2022-23/24146-24149. 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.