sebi:WTM/AS/IMD/DoF-1/31377/2025-26
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Facts / Headnote
Proceedings against the Noticee disposed of without issuance of any direction
Provisions invoked
- s. 19
- s. 73
- s. 73(2)
- s. 209(5)
Parties
- Taslim Arif Khan
Holding
The proceedings against the Noticee, Taslim Arif Khan, were disposed of without issuance of any direction, as there was no finding that he was an 'officer in default' under Section 5 of the Companies Act, 1956, and consequently liability under Section 73(2) could not be invoked against him.
Full text
Order in respect of Taslim Arif Khan in the matter of Greenbang Agro Ltd. Page 2 of 11 Maondal, Sreemon Ghosh, Taslim Arif Khan, Nilima Ponda, Lipika Bhaduri, shall jointly and severally refund the money collected through the offer and allotment of NCDs by the GAL to the holders of NCDs, with an interest of 15% per annum (the interest being calculated from the date when the repayments became due in terms of Section 73(2) of the Companies Act, 1956 till the date of actual payment) within a period of 90 days from the date of receipt of this Order; … … (d) Till the refund, as directed above, is complete, the company and its above named directors are hereby– (a) restrained from accessing the securities market; (b) prohibited from buying, selling or otherwise dealing in securities in any manner whatsoever, directly or indirectly; and (c) restrained from associating themselves, with any listed public company or any public company which intends to raise money from the public.
Order in respect of Taslim Arif Khan in the matter of Greenbang Agro Ltd. Page 3 of 11 4. Hon’ble SAT, vide its order dated November 08, 2024 allowed the appeal and the impugned order dated June 15, 2018 was set aside qua the Noticee. The matter was remitted to SEBI for reconsideration and to pass a fresh order in accordance with the law after granting an opportunity of hearing to the Noticee.
Order in respect of Taslim Arif Khan in the matter of Greenbang Agro Ltd. Page 4 of 11 affairs of the Company and was not even a shareholder of the Company as is reflected from the records available on the MCA Portal. 7.6. Under the provisions of the Companies Act, 1956 and under the Memorandum of the Company, the Managing Director is the person who takes the final
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Source: SecMarx — sebi:WTM/AS/IMD/DoF-1/31377/2025-26. 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.