sebi:WTM/GA/129/NRO/1/07
Facts / Headnote
Padmini Technologies Ltd. and its whole time directors prohibited from associating with the capital market for a period of five years
Provisions invoked
- s. 11B
- s. 15A
- s. 19
- s. 113
- s. 69
- s. 11
- s. 12
- s. 11A
- s. 27
- s. 103
Regulations relied on
- SEBI (PFUTP) Regulations, 1995 — 3
- SEBI (PFUTP) Regulations, 2003 — 10
Parties
- Padmini Technologies Limited
- Shri Vivek Nagpal
- Shri Vishnu Sarup Gupta
- Shri Praveen Kumar Jain
Holding
Padmini Technologies Ltd. and its whole time directors were found to have violated Regulation 3, 6(a), 6(c), 6(d) of the FUTP Regulations and Section 113 of the Companies Act, 1956, and were prohibited from associating with the capital market for five years. The request for cross-examination of persons whose statements were taken by SEBI was rejected.
Full text
Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ In the matter of Padmini Technologies Limited Jan 31, 2007 | Orders : Orders of Chairman/Members BEFORE THE SECURITIES AND EXCHANGE BOARD OF INDIA CORAM: G. ANANTHARAMAN, WHOLE TIME MEMBER
AGAINST PADMINI TECHNOLOGIES LIMITED AND ITS WHOLE TIME DIRECTORS, SHRI VIVEK NAGPAL, SHRI VISHNU SARUP GUPTA AND SHRI PRAVEEN KUMAR JAIN IN THE MATTER OF PADMINI TECHNOLOGIES LIMITED. Date of Final Hearing: September 22, 2006 Appearances: For Noticee : : Shri. S. Ganesh, Sr. Advocate Ms. Divya Kapur, Advocate Shri. V S Gupta, Executive Director, Padmini Technologies Ltd. For Securities and Exchange Board of India: Shri. Amarjeet Singh, General Manager 1.0 BACKGROUND. 1.1 M/s Padmini Technologies Ltd. (hereinafter referred to as ‘Padmini’) was originally incorporated as a private limited company on February 02, 1990 under the name Padmini Packaging Pvt. Ltd. The name of the said company (Padmini Packaging
(b) Depositions, statements and all correspondence with i) Ketan Parekh ii) Classic Credit Ltd. iii) Panther Fincap & Management Services Ltd. iv) Triumph International Finance Ltd. v) Delhi Stock Exchange vi) Bombay Stock Exchange vii) NSDL viii) Punjab National Bank ix) Banks x) ROC xi) Hotel Taj Bengal xii) Sunil Kishorepuria xiii) Prakash Kumar Damani xiv) Sanjay Kumar xv) Cherry Marketing P. Ltd. xvi) Hermonite Surgicals P. Ltd. xvii) Zinga Chemicals P. Ltd. xviii) Hermonite Consultants P. Ltd. xix) HT Ferro P. Ltd. xx) Cama Enterprises P. Ltd. xxi) Arun Goenka xxii) Umesh Goenka xxiii) Kishan Goenka xxiv) SBI Mutual Fund including the research report if any xxv) VB Impex P. Ltd. xxvi) JP promoters P. Ltd. xxvii) Vinod Kumar xxviii) Pradeep Kumar xxix) Churuwala Exports P. Ltd. xxx) DKG Buildcon P. Ltd. xxxi) Iris Infrastructural P. Ltd. xxxii) Mikona Impex & Traders P. Ltd. xxxiii) Ashok Amar & Associates xxxiv) Kailash Chand Agarwal xxxv) Copies of complaints of 320 investors xxxvi) Inspection Report of transfer/ demat records of Padmini taken by SEBI on 2.8.2001. xxxvii) VS Gupta xxxviii) Ex-president of DSE”
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