sebi:WTM/AB/CFD/CFD-SEC-4/31401/2025-26
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Interim directions issued freezing shareholding of Noticees 3 to 9 and restraining Noticee 1 from accessing securities market and Noticee 2 from taking new merchant banking assignments until further orders.
Provisions invoked
- s. 19
- s. 12A
Regulations
- Reg. 4(1)
Parties
- Noticee 1
- Noticee 2
- Noticees 3 to 9
Holding
SEBI froze the promoters' shareholding in Varyaa Creations Limited, restrained the Company from accessing the securities market and restrained the Lead Manager from taking new merchant banking assignments pending conclusion of inquiry.
Full text
_________________________________________________________________________ Interim Order in the matter of Varyaa Creations Limited Page 2 of 10
_________________________________________________________________________ Interim Order in the matter of Varyaa Creations Limited Page 3 of 10 Objects Amount proposed to be utilized (₹ Cr) Capital Expenditure for the proposed new showroom 5.50 Purchase of Inventory 10 General Corporate Purpose 4 Issue Expenses 0.60 Total 20.10
_________________________________________________________________________ Interim Order in the matter of Varyaa Creations Limited Page 4 of 10 Bank vide letter dated April 30, 2024 (Copy of the letter is placed as an Annexure to this Order). The stated purpose of the transfers, as per the aforesaid letter, was to cover issue management fees, underwriting and selling commissions, registrar fees, and other IPO-related expenses. A copy of the instruction was also marked to the Company by the Lead Manager.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:WTM/AB/CFD/CFD-SEC-4/31401/2025-26. 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.