sebi:QJA/GR/ERO/ERO/30793/2024-25
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Facts / Headnote
Shri Diptendu Banerjee and Shri Rahul Banerjee, being directors during the relevant period, held jointly and severally liable with M/s Rahul Hi-Rise Limited to make repayments; directions in paragraph 50(a) to (h) of Final Order dated November 27, 2017 made applicable to and to be complied with by them.
Provisions invoked
- s. 19
- s. 73
- s. 28A
- s. 4A
- s. 117B
- s. 58
- s. 56
- s. 73(2)
- s. 465
- s. 67
- s. 2(36)
- s. 60
- s. 56(1)
- s. 71
- s. 40
- s. 217
Regulations
- Reg. 200
- Reg. 4(2)(a)
- Reg. 59
Parties
- Shri Diptendu Banerjee (Noticee No. 1)
- Shri Rahul Banerjee (Noticee No. 2)
Holding
The offer of NCDs by RHRL was a deemed public issue which failed to comply with public-issue norms, and Noticee No.1 and Noticee No.2 as directors during issuance are officers in default jointly and severally liable to refund with RHRL in terms of the Final Order dated November 27, 2017.
Full text
__________________________________________________________________________________ Order in the matter of M/s Rahul Hi-Rise Limited Page 2 of 29
__________________________________________________________________________________ Order in the matter of M/s Rahul Hi-Rise Limited Page 3 of 29
__________________________________________________________________________________ Order in the matter of M/s Rahul Hi-Rise Limited Page 4 of 29
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Source: SecMarx — sebi:QJA/GR/ERO/ERO/30793/2024-25. 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.