sebi:WTM/AB/SEBI/10/2020-21
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Facts / Headnote
Ex parte ad-interim directions issued restraining KKDIL and its directors from mobilizing funds, dealing in securities, and disposing of assets; show cause notice issued as to why final directions under Sections 11, 11(4), and 11B of the SEBI Act should not be imposed, including refund of monies with 15% interest within 180 days and market access prohibition for three years from date of refund.
Provisions invoked
- s. 11B
- s. 11A
- s. 11
- s. 11(4)
- s. 62
- s. 55A
- s. 22
- s. 73
- s. 4A
- s. 67(3)
- s. 67
- s. 58
- s. 56
- s. 73(2)
- s. 73(1)
- s. 60
- s. 56(3)
- s. 60(1)
- s. 60(5)
Regulations
- Reg. 47
- Reg. 7
- Reg. 46
- Reg. 57
- Reg. 25
- Reg. 26
- Reg. 6
- Reg. 5
- Reg. 4(2)(d)
- Reg. 36
- Reg. 37
Holding
The Adjudicating Officer prima facie found that KKDIL and its directors violated Sections 56, 60, 62, 67, and 73 of the Companies Act, 1956, and relevant DIP Guidelines and ICDR Regulations, 2009, by making public issues of equity shares and CRPS to more than 49 persons without filing a prospectus, obtaining stock exchange listing, or complying with public issue norms. Ex parte interim directions were issued restraining the company and directors from mobilizing funds, dealing in securities, and disposing of assets, with a show cause notice calling for replies within 30 days.
Full text
Ex parte ad-interim Order cum Show Case Notice in the matter of Kalyani and Kalyani Developers (India) Ltd. Page 2 of 22
Ex parte ad-interim Order cum Show Case Notice in the matter of Kalyani and Kalyani Developers (India) Ltd. Page 3 of 22
Ex parte ad-interim Order cum Show Case Notice in the matter of Kalyani and Kalyani Developers (India) Ltd. Page 4 of 22
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Source: SecMarx — sebi:WTM/AB/SEBI/10/2020-21. 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.