sebi:QJA/MK/SRO/SRO/29160/2023-24
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Facts / Headnote
Show cause notice dated January 18, 2023 disposed of without issuing any directions
Provisions invoked
- s. 19
- s. 11(1)
- s. 22
- s. 4A
- s. 67(3)
- s. 58
- s. 73(2)
- s. 67
- s. 73(1)
- s. 2(36)
- s. 60
- s. 56(1)
- s. 56
- s. 73
- s. 64(2)
- s. 64
Regulations
- Reg. 7
- Reg. 36
- Reg. 26(1)
- Reg. 6(1)
- Reg. 46(1)
- Reg. 57(1)
- Reg. 4(2)
- Reg. 107
- Reg. 32(1)
- Reg. 4(2)(d)
- Reg. 4
- Reg. 63
- Reg. 5(1)
- Reg. 47(1)
- Reg. 49(1)
Parties
- Abhyudaya Broadcasting Limited
- Pragathi Broadcasting Limited
Holding
The allotment of 6,95,40,000 shares by ABL to PBL was held not to be an offer for sale to the public under section 64(2) read with section 67(3) of the Companies Act, 1956, and the show cause notice dated January 18, 2023 was disposed of without issuing any directions.
Full text
Order in the matter of Abhyudaya Broadcasting Limited Page 2 of 23 2. Securities and Exchange Board of India (hereinafter referred to as “SEBI”) received a complaint letter dated January 19, 2019 against ABL with respect to issue of shares. An examination was initiated by SEBI into the fund raising activity of ABL with respect to public issue of shares and to ascertain whether ABL had made any public issue of equity shares without complying with the provisions of Companies Act, 1956, Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “SEBI Act”) read with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (hereinafter referred to as “ICDR Regulations”. Show Cause Notice
Order in the matter of Abhyudaya Broadcasting Limited Page 3 of 23 3. 07-01-2013 2,00,00,000 20,00,00,000 4. 23-01-2023 57,50,000 5,75,00,000 5. 11-02-2013 3,00,000 30,00,000 6. 16-02-2013 5,00,000 50,00,000 7. 19-03-2013 7,90,000 79,00,000 8. 24-07-2013 9,00,000 90,00,000
Order in the matter of Abhyudaya Broadcasting Limited Page 4 of 23 2 12-10-2012 2,23,00,000 4,13,00,000 12-08-2012 11 15,20,000 24,00,000 3 07-01-2013 2,00,00,000 6,13,00,000 14-08-2012 6 7,20,000 31,20,000 4 23-01-2023 57,50,000 6,70,50,000 05-09-2012 11 20,00,000 51,20,000 5 11-02-2013 3,00,000 6,73,50,000 10-09-2012 15 20,00,000 71,20,000 6 16-02-2013 5,00,000 6,78,50,000 17-09-2012 15 20,00,000 91,20,000 7 19-03-2013 7,90,000 6,86,40,000 27-09-2012 27 39,00,000 1,30,20,000
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Source: SecMarx — sebi:QJA/MK/SRO/SRO/29160/2023-24. 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.