sebi:WTM/AB/ERO/ERO/9380/2020-21
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Facts / Headnote
Ms. Sumana Ghosh Roy prohibited from accessing and dealing in securities market for 3 years with set-off of period already undergone under interim order; held not liable for refund under Section 73(2).
Provisions invoked
- s. 19
- s. 56
- s. 73(2)
- s. 60(1)
Parties
- Sumana Ghosh Roy
Holding
Ms. Sumana Ghosh Roy, as promoter and non-executive director of PAIL during its illegal public issue of Redeemable Preference Shares in violation of Sections 56 and 60 of the Companies Act, 1956, is prohibited from the securities market for 3 years, but is not liable for joint and several refund under Section 73(2).
Full text
Final order in respect of Sumana Ghosh Roy in the matter of PDS Agro Industries Limited. Page 2 of 6 divert any funds raised from public through the offer and allotment of Redeemable Preference Shares;
Final order in respect of Sumana Ghosh Roy in the matter of PDS Agro Industries Limited. Page 3 of 6 matter on July 27, 2020. Apart from the option of availing the opportunity of hearing at SEBI head office, regional office, or local office, Noticee no. 3 was also given the option to appear through audio-visual web-meeting apps. However, Noticee no. 3, vide her email dated July 15, 2020 had requested for postponement of the hearing on health grounds (due to existing co-morbidities) and had also expressed her inability to attend the personal hearing through audio-visual web-meeting apps. Considering the fact that the ex-parte
Final order in respect of Sumana Ghosh Roy in the matter of PDS Agro Industries Limited. Page 4 of 6 Committee held on June 04, 2018 wherein inter alia, it has been recorded as under:
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Source: SecMarx — sebi:WTM/AB/ERO/ERO/9380/2020-21. 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.