sebi:SEBI/WTM/SR/EFD/64/09/2017
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Provisions invoked
- s. 11
- s. 19
- s. 12A
- s. 12
- s. 27
- s. 11C(3)
- s. 11C(5)
- s. 77(2)
- s. 77(4)
Regulations
- Reg. 7
- Reg. 11
- Reg. 13
- Reg. 4(2)(f)
- Reg. 3(a)
- Reg. 3(c)
- Reg. 13A
- Reg. 3(b)
- Reg. 3(d)
- Reg. 4(2)(k)
- Reg. 7A
- Reg. 4(2)(c)
- Reg. 11(1)
- Reg. 13A(1)
- Reg. 13(A)
- Reg. 13(A)(1)
- Reg. 13A(I)
Parties
- IFCF
- Euram-FII
- Vintage
- Alkarni Holding
- Cardinal Capital
- KII
- Credo
- Euram-Bank
- Pan Asia (Global Finance and Capital Limited)
- Asahi
- Avon
- K Sera
- CAT Technologies
- IKF
- Mavi
Holding
The excerpt does not contain a final holding or disposition; it comprises portions of a SEBI order addressing interim/confirmatory orders, SCN allegations, and noticee replies regarding alleged GDR-related fraud and market manipulation.
Full text
Page 2 of 46 1.2 The Interim Order was confirmed against – I. IFCF on December 30, 2011 (“Confirmatory Order–IFCF”); II. Euram–FII on January 25, 2012 (“Confirmatory Order Euram–FII”) and
Page 3 of 46 a. Greenwich Management Inc.; b. Tradetec Corporation; iii. As the authorised signatory for Asahi, Shri Laxminarayan Jainarayan Rathi (Chairman and Managing Director of Asahi during GDR Issue in April 2009) signed a Pledge Agreement dated April 21, 2009, with European American Investment Bank AG (“Euram–Bank”). Shri Laxminarayan Jainarayan Rathi was also the authorised signatory for Asahi’s bank account with Euram–Bank.
Page 4 of 46 iii. As the authorised signatory for Avon, Shri Pankaj Saraiya (Chairman, Managing Director, Chief Executive Officer and Promoter of Avon during GDR Issue in June 2009) signed a Pledge Agreement dated June 10, 2009, with Euram–Bank on June 12, 2009. Shri Pankaj Saraiya was also the authorised signatory for Avon’s bank account with Euram–Bank.
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Source: SecMarx — sebi:SEBI/WTM/SR/EFD/64/09/2017. 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.