sebi:WTM/AB/CFD/ERO/14/2018-19
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 restraining noticees from mobilizing funds, accessing securities market and alienating assets till further orders, with show cause as to why refund with 15% interest and 4-year market prohibition should not be imposed.
Provisions invoked
- s. 11B
- s. 11A
- s. 11
- s. 62
- s. 55A
- s. 73
- s. 4A
- s. 67(3)
- s. 67
- s. 56
- s. 73(2)
- s. 73(1)
- s. 60
- s. 73(3)
Parties
- Golden Pariwar Holding and Developers India Limited
- Sukalyan Biswas
- Debamita Biswas
- Bina Biswas
- Susmita Biswas
- Suprakash Biswas
- Sushyamal Biswas
- Sukumar Biswas
Holding
SEBI prima facie held the Company's offer and allotment of RPS to 54 persons in 2010-11 and 66 persons in 2011-12 was a public issue in violation of Sections 56, 60 and 73 of the Companies Act, 1956 and issued interim restraints on fund mobilization, market access and asset disposal with show-cause for refund.
Full text
Interim Order in the matter of Golden Pariwar Holding and Developers India Limited Page 2 of 13 other, copies of some Redeemable Preference Shares (hereinafter referred to as ‘RPS’) issued by the Company. The matter was taken for examination as to whether the provisions of the Securities and Exchange Board of India Act, 1992 (hereinafter, “SEBI Act, 1992”) read with the relevant provisions of Companies Act, 1956 were complied with or not in the alleged issuance of RPS by the Company.
Interim Order in the matter of Golden Pariwar Holding and Developers India Limited Page 3 of 13 viii) Date of filing of last Annual Accounts: 31/03/2010
Interim Order in the matter of Golden Pariwar Holding and Developers India Limited Page 4 of 13 Managerial Personnel of the company. iii. Nature of Business of the company. iv. Information in respect of issue of shares
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/ERO/14/2018-19. 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.