sebi:QJA/AA/IVD/ID16/28478/2023-24
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Provisions invoked
- s. 19
- s. 11(1)
- s. 12A
- s. 15H
- s. 50
- s. 44(1)
Regulations
- Reg. 3
- Reg. 3(b)
- Reg. 8(1)
Parties
- Dinesh Jajodia (Noticee No. 1)
- Mangiram Sharma (Noticee No. 2)
- Manoj Sharma (Noticee No. 3)
- Vinod Sethi (Independent Non-Executive Director)
- Nitin Potdar (Independent Non-Executive Director)
Holding
The order records SEBI's allegations that the Noticees generated bogus bills through paper entities to help Geodesic Limited manipulate its books of accounts and divert shareholder/bondholder funds, in violation of Section 12A of the SEBI Act and PFUTP Regulations, and sets out Noticee No. 1's preliminary submissions and settlement application. No final disposition or penalty is stated in the extracted pages.
Full text
Order in the matter of Geodesic Limited Page 2 of 95 Officer), Mr. Vinod Sethi (Independent Non-Executive Director) and Mr. Nitin Potdar (Independent Non-Executive Director) in the matter.
Order in the matter of Geodesic Limited Page 3 of 95 that the Noticees had generated bogus bills against commissions, as consideration, by incorporating various paper entities and had assisted the company and its promoter – directors in manipulating the books of accounts of the Company. The main observations of the investigation carried out by SEBI are as under: 3.1 GL was incorporated in the year 1982 and it got listed on BSE in 2001 and on NSE in 2004.
Order in the matter of Geodesic Limited Page 4 of 95 assignment basis. The said fact was even admitted by Noticee No. 1 in his affidavit filed before the Hon’ble High Court of Bombay in the matter of HDFC Bank Limited Vs. Geodesic Limited (Company Petition No. 514 of 2013).
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Source: SecMarx — sebi:QJA/AA/IVD/ID16/28478/2023-24. 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.