sebi:WTM/GM/CFD/09/2018-19
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Modification of June 04, 2013 interim order read with September 29, 2015 order to permit temporary ISIN-level de-freezing of three promoter/promoter group beneficiary accounts solely to give effect to BIFR/AAIFR corporate actions, with freeze automatically re-imposed thereafter until MPS compliance.
Provisions invoked
- s. 19
- s. 21
- s. 12A
Regulations
- Reg. 7(1)
Parties
- Sanathnagar Enterprises Limited
- N.P.S. Shinh
- Manita Shinh
- Continuous Forms (Calcutta) Limited
Holding
SEBI modified the June 4, 2013 read with September 29, 2015 MPS directions to allow temporary de-freezing of three promoter accounts only to record BIFR/AAIFR capital reduction, allotments and demerger in the depository system, with the restraint automatically reviving thereafter until MPS compliance.
Full text
_________________________________________________________________________ Order in the matter of Sanathnagar Enterprises Limited Page 2 of 15
_________________________________________________________________________ Order in the matter of Sanathnagar Enterprises Limited Page 3 of 15
_________________________________________________________________________ Order in the matter of Sanathnagar Enterprises Limited Page 4 of 15
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Source: SecMarx — sebi:WTM/GM/CFD/09/2018-19. 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.