sebi:WTM/ASB/NRO/NRO/29763/2023-24
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Facts / Headnote
Directions issued: joint and several refund of Rs. 3,37,96,000 with 15% interest within 90 days, public notice, restraint from securities market for 5 years from completion of refunds, restraint from associating with listed/public companies for Noticees 2-6 for 5 years from completion of refunds, and other compliance directions.
Provisions invoked
- s. 19
- s. 73
- s. 4A
- s. 67(3)
- s. 67
- s. 73(2)
- s. 73(1)
- s. 2(36)
- s. 60
- s. 56(1)
- s. 56(3)
- s. 73(3)
Parties
- Unimax Agrotech India Limited (Noticee 1)
- Shri Rajendra Singh (Noticee 2)
- Shri Surender Kumar Sharma (Noticee 3)
- Shri Shashi Bhushan (Noticee 4)
- Shri Sanjiv Kumar (Noticee 5)
- Shri Anil Kumar Sagar (Noticee 6)
Holding
UAIL's offer and allotment of RPS to 1,835 investors constituted a public offer under Section 67(3) of the Companies Act, 1956, and UAIL violated Sections 56(1), 56(3), 60, and 73 of that Act; the Noticees, as officers in default, are jointly and severally liable to refund the money collected with 15% interest and are restrained from the securities market.
Full text
Order in the matter of Unimax Agrotech India Limited Page 2 of 13 (a) UAIL (CIN: U74999UR2011PLC000033 / PAN: AABCU3804A) was incorporated on December 8, 2011 with the RoC, Uttarakhand, having its registered office at Ward No.-4, Opp.- Petrol Pump Gadarpur, Dineshpur, Udham Singh Nagar Uttarakhand -263160. As per Form 18, there was a change of registered office address with effect from 26/12/2011 to D1, D2- 33, Pragati Vihar Gali, Hotel Silver Point, Rudrapur, Udham Singh Nagar, Uttarakhand - 263153. This was again changed on 05.10.2013 to Shop No. 1, 2 & 3, Second Floor, Business Plaza Rudrapur Udham Singh Nagar, Uttarakhand- 263153.
Order in the matter of Unimax Agrotech India Limited Page 3 of 13 13 22.03.2013 1,45,350 74 14,53,500 14 17.04.2013 1,19,650 71 11,96,500 15 21.05.2013 1,47,650 59 14,76,500 16 17.06.2013 1,17,500 67 11,75,000 17 18.07.2013 2,51,800 127 25,18,000 18 12.09.2013 1,85,400 121 18,54,000 19 07.10.2013 91,000 58 9,10,000 20 21.10.2013 42,800 35 4,28,000 21 21.11.2013 80,300 30 8,03,000 22 20.12.2013 74,300 48 7,43,000 23 24.02.2014 1,44,200 52 14,42,000 24 01.03.2014 77,600 45 7,76,000 25 28.03.2014 88,600 40 8,86,000 26 31.03.2014 1,45,300 47 14,53,000 Total 33,79,600 1,835 3,37,96,000
Order in the matter of Unimax Agrotech India Limited Page 4 of 13 (Noticee 5) and Shri Anil Kumar Sagar (Noticee 6) returned undelivered. The status of delivery of SCN to Shri Rajendra Singh (Noticee 2) could not be confirmed. Thereafter, attempts were made to serve the SCN on Shri Rajendra Singh (Noticee 2), Shri Sanjiv Kumar (Noticee 5) and Shri Anil Kumar Sagar (Noticee 6) through affixture at the last known address. However, their addresses could not be identified during the visits to their places. Subsequently, intimation regarding the SCN was published in the newspapers on October 05, 2023.
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Source: SecMarx — sebi:WTM/ASB/NRO/NRO/29763/2023-24. 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.