sebi:WTM/AB/EFD-1/DRA-1/27/2018-19
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Facts / Headnote
Noticee Nos. 1, 2, 3, 6 and 7 restrained from accessing the securities market and prohibited from buying, selling or otherwise dealing in securities or being associated with the securities market for five years with existing holdings including mutual fund units frozen; proceedings against Noticee Nos. 4 and 5 abated due to death.
Provisions invoked
- s. 19
- s. 11(1)
- s. 12A
- s. 376
Regulations
- Reg. 4
- Reg. 3
- Reg. 2(c)
- Reg. 3(a)
Parties
- M/s Bhoruka Aluminium Ltd. (Noticee No.1)
- Mr. Ajay Kumar Dalmia (Noticee No.2)
- Mr. Pandurang Setty (Noticee No.3)
- Mr. Amla Bansi Lal (Noticee No.4)
- Mr. Prabir Chakravarti (Noticee No.5)
- Mr. Rajkumar Aggarwal (Noticee No.6)
- Mr. Rajat Aggarwal (Noticee No.7)
Holding
Bhoruka Aluminium Ltd., its CFO Ajay Kumar Dalmia and directors Pandurang Setty, Rajkumar Aggarwal and Rajat Aggarwal violated Section 12A(a),(b),(c) of SEBI Act read with Regulations 3(a),(b),(c),(d) and 4(1),(2)(f),(k),(r) of PFUTP Regulations, 2003 and were debarred for five years; proceedings against Amla Bansi Lal and Prabir Chakravarti abated on death.
Full text
Order in the matter of Bhoruka Aluminium Limited Page 2 of 17 BAL/ the Company’) for its GDR issue made on December 03, 2010, the details of which is tabulated as below:
Order in the matter of Bhoruka Aluminium Limited Page 3 of 17 Regulations, 2003’} by Noticee No. 1 and violations of Section 12A(a), (b), (c) of SEBI Act, 1992 read with Regulations 3(a), (b), (c), (d) and 4(1) of PFUTP Regulations, 2003 by Noticee Nos. 2 to
Order in the matter of Bhoruka Aluminium Limited Page 4 of 17 Secretary appeared on behalf of the above Noticee No. 1, 3, 6 and 7. She further informed that the Noticee Nos. 4 and 5 have already expired and, therefore, prayed to abate the proceedings qua these two Noticees. The Noticee No. 1 vide its two separate letters, both dated August 03, 2018, has submitted a copy of the death certificate of these two Noticees.
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Source: SecMarx — sebi:WTM/AB/EFD-1/DRA-1/27/2018-19. 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.