sebi:WTM/AB/DDHS/LO-Ranchi/02/2018-19
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Facts / Headnote
Interim directions issued restraining fund mobilization and offer documents, prohibiting securities market access, freezing assets/diversion, directing cooperation and show cause why refund with 15% interest and market prohibition should not be imposed
Provisions invoked
- s. 11B
- s. 11A
- s. 11
- s. 55A
- s. 73
- s. 4A
- s. 67(3)
- s. 67
- s. 56
- s. 73(2)
- s. 73(1)
- s. 60
Parties
- Rainbow Industries and Constructions Limited (RIACL)
- Mr. Ashok Saw
- Mr. Mukesh Singh
- Ms. Nidhi Yogendra
- Mr. Barun Kumar Rawani
- Mr. Bisun Rawani
- Mr. Ganesh Thakur
- Mr. Dhiren Rawani including his legal representatives
- Mr. Nand Lal Koiree
- Ms. Mohini Devi
Holding
RIACL prima facie made a public issue of Redeemable Preference Shares to over 10,000 persons in contravention of Sections 56, 60 and 73 of the Companies Act, 1956, and SEBI issued interim restraints, asset freeze and show-cause directions for joint and several refund.
Full text
Interim Order in the matter of Rainbow Industries and Constructions Limited Page 2 of 13 2. Details of the company were obtained from MCA 21 portal. The following relevant information was taken note of: i) Date of Incorporation : 15/01/2010 ii) Type of the company : Public and Unlisted iii) CIN : U45201JH2010PLC013940 iv) PAN: AAECR6197A v) Registered Office Address: 1st Floor Balaji Majestic Mithu Road Bank More, Dhanbad JH
Interim Order in the matter of Rainbow Industries and Constructions Limited Page 3 of 13 viii) Date of filing of last Annual Accounts: 31/03/2014 ix) Return of allotment (Form 2) - Total capital of the company (Break-up of issues and authorized capital) a. Issued capital: Taking into consideration the Company Master Data, Form 2 and Annual Return filed by RIACL with RoC
Interim Order in the matter of Rainbow Industries and Constructions Limited Page 4 of 13 x) Details of any Board meetings held by the company as per RoC record which indicate with respect to the issue: Not Available
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Source: SecMarx — sebi:WTM/AB/DDHS/LO-Ranchi/02/2018-19. 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.