sebi:QJA/AA/CFID/CFID/30318/2024-25
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Provisions invoked
- s. 19
- s. 11(1)
- s. 12A
- s. 15H
- s. 27
- s. 45
- s. 14
- s. 149
- s. 134
- s. 2(76)
- s. 50
- s. 66
- s. 42
- s. 149(12)
Regulations
- Reg. 3
- Reg. 4
- Reg. 2(1)(c)
- Reg. 4(2)(f)
- Reg. 3(c)
- Reg. 18(3)
- Reg. 4(2)(e)
- Reg. 4(1)(a)
- Reg. 33
- Reg. 4(1)
- Reg. 48
- Reg. 33(1)
- Reg. 4(2)(f)(i)
- Reg. 2
Parties
- Setubandhan Infrastructure Ltd.
- Mr. Prakash Pusaram Laddha
- Mr. Prafulla Subhashchandra Bhat
- Noticee No. 4 (name not specified in excerpt)
Full text
Order in the matter of Setubandhan Infrastructure Limited Page 2 of 115 2. Independent forensic auditor M/s. BDO India LLP was appointed to assist the investigating authority for conducting forensic examination of books of accounts of SIL for four financial years from FY 2016-17 to FY 2019-20 (hereinafter referred to as ‘Investigation Period’). The Forensic Audit Report (hereinafter referred to as ‘FAR’) was submitted to SEBI by the forensic auditor on July 11, 2022.
Order in the matter of Setubandhan Infrastructure Limited Page 3 of 115 whatsoever, for a particular period and directions not to be associated with any registered intermediary/ listed company and any public company which intends to raise money from public in the securities market, in any manner whatsoever should not be issued. The Noticees were also called upon to show cause why appropriate monetary penalty under Sections 11B(2) and 11(4A) read with Sections 15HA and 15HB of the SEBI Act, 1992 read with Rule 5 of Securities and Exchange Board of India (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter referred to as ‘SEBI Adjudication Rules’) should not be levied against them. The following annexures were enclosed along with the SCN: Table 1 Annexures to SCN Annex. No. Particulars I Investigation Report (including Annexures A to K) II Work order of Navi Mumbai Metro Station project
Order in the matter of Setubandhan Infrastructure Limited Page 4 of 115 6. The status of delivery of the SCN is as under: Table 3 Name of Noticee Address of the Noticee Mode of Service Date of Delivery Mode of Service Hand Delivery SPAD Newspaper Publication Email Setubandhan Infrastructure Ltd. The Exchange, Near Ved Mandir, Tidke Colony, Trimbak Road, Nashik, Maharashtra - 422002 N.A. Yes N.A. 01/12/2023 28/11/2023 Mr. Prakash Pusaram Laddha The Exchange, Near Ved Mandir, Tidke Colony, Trimbak Road, Nashik, Maharashtra – 422002 N.A. Yes N.A. 01/12/2023 28/11/2023 Kaushal, Kulkarni Colony, Sadhu Vaswani Road, Nashik N.A. Yes Mr. Prafulla Subhashchandra Bhat B/2306, Sky Flama, Dosti Flamingos, China Mill Compound, T J Marg, Parel, Sewree, Mumbai, Maharashtra – 400015 No (Returned undelivered with comments – “Office Locked Always”) N.A. 18/01/2023
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Source: SecMarx — sebi:QJA/AA/CFID/CFID/30318/2024-25. 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.