sebi:WTM/AB/DDHS/DIV2/28/2020-21
Facts / Headnote
Ex-parte interim directions issued restraining fresh mobilization, dealing in securities and disposal of assets with cooperation direction; show cause issued why joint and several refund with 15% interest and debarment should not be imposed, to become final if no reply/hearing sought within prescribed time.
Provisions invoked
- s. 11B
- s. 11(4)
- s. 55A
- s. 22
- s. 73
- s. 4A
- s. 67(3)
- s. 67
- s. 58
- s. 73(2)
- s. 73(1)
- s. 2(36)
- s. 42
- s. 26
- s. 40
- s. 60(1)
- s. 62
- s. 40(1)
- s. 26(4)
Regulations
- Reg. 13
- Reg. 16
- Reg. 22
- Reg. 4(2)(a)
- Reg. 15
- Reg. 201
- Reg. 7
- Reg. 8
- Reg. 6
- Reg. 5
- Reg. 4(5)
- Reg. 4(2)(b)
- Reg. 4(2)(c)
- Reg. 9
- Reg. 4(2)(d)
- Reg. 16B
Holding
The issuance of Non-Convertible Redeemable Preference Shares to more than 49/200 persons in FYs 2010-11 to 2014-15 is prima facie a deemed public issue in violation of prospectus, listing and NCRPS norms, warranting ex-parte restraint directions and show cause for joint and several refund with 15% interest and market association bar.
Full text
Ex-parte Ad-Interim Order cum Show Cause Notice in the matter of Sitaram Maharaj Sakhar Karkhana (Khardi) Limited Page 1 of 23
Ex-parte Ad-Interim Order cum Show Cause Notice in the matter of Sitaram Maharaj Sakhar Karkhana (Khardi) Limited Page 2 of 23
Ex-parte Ad-Interim Order cum Show Cause Notice in the matter of Sitaram Maharaj Sakhar Karkhana (Khardi) Limited Page 3 of 23
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Source: SecMarx — sebi:WTM/AB/DDHS/DIV2/28/2020-21. 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.