sebi:WTM/AB/CFID/CFID-SEC4/30708/2024-25
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Facts / Headnote
Interim ex parte directions issued: Noticee 2 restrained from director/KMP positions in listed companies or SEBI-registered intermediaries; Noticees 1-4 restrained from dealing in securities or accessing capital markets; Rs. 89,24,39,132 impounded as alleged unlawful gains to be deposited in escrow; rights issue funds to be brought back; asset inventories to be provided; prosecution to be initiated against Noticees 1, 2 and 3; demat accounts frozen; directions to Depositories, RTAs, Stock Exchanges.
Provisions invoked
- s. 19
- s. 12A
- s. 27
- s. 206C
- s. 194Q
Regulations
- Reg. 3(a)
- Reg. 4(1)
- Reg. 169(5)
Parties
- Debock Industries Limited
- Mukesh Manveer Singh
- Sunil Kalot
- Priyanka Sharma
Holding
SEBI's Whole Time Member issued an interim ex parte order restraining Debock Industries Limited and its promoters from dealing in securities, impounding Rs. 89,24,39,132 as alleged unlawful gains, and directing various interim measures pending completion of investigation into prima facie fraudulent preferential allotments, fictitious sales/purchases, and diversion of rights issue proceeds.
Full text
Interim Ex Parte Order in the matter of Debock Industries Limited Page 2 of 61 issue and one bonus issue. The details of the same are discussed in subsequent paragraphs.
Interim Ex Parte Order in the matter of Debock Industries Limited Page 3 of 61 (Amt. in Rs. Cr.) Particulars FY22 FY23 Comments Sales Wadwa Agro Seeds 19.66 63.61 linked entity DSML 9.11 50.41 linked entity Eagle Sales 20.92 - related party Arvind Trading Company 20.41 - Undisclosed related party Total Sales from above parties 70.10 114.02 - Total Sales 97.37 146.4 % of Revenue from disclosed/ undisclosed / linked / related parties
Interim Ex Parte Order in the matter of Debock Industries Limited Page 4 of 61 7. Wadwa Agro Seeds and DSML are sole proprietorships owned by Mohak Wadhwa and Harish Sharma respectively, who are directors in Debock Seeds Multi Producer Company Ltd. (Debock Seeds), a Debock Group Company. Mukesh Manveer Singh, the CMD of DIL is a shareholder of Debock Seeds.
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Source: SecMarx — sebi:WTM/AB/CFID/CFID-SEC4/30708/2024-25. 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.