sebi:WTM/GM/ERO/ERO/12428/2021-22
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Facts / Headnote
Directions issued against the Noticee: jointly and severally liable to wind up CIS schemes and refund investors within three months; restrained from alienating assets; restrained from accessing securities market; restrained from holding director/KMP position in any listed company for 4 years.
Provisions invoked
- s. 11A
- s. 19
- s. 12
Regulations
- Reg. 65
- Reg. 3
- Reg. 4(2)(t)
Parties
- Debapratim Mazumder
Holding
The Noticee, Debapratim Mazumder, as a director of Remac Realty India Limited during the period the company raised funds under CIS schemes, is accountable for the company's contraventions of Section 12(1B) of the SEBI Act read with Regulation 3 of the CIS Regulations and Regulation 4(2)(t) of the PFUTP Regulations, and is jointly and severally liable to refund investors along with other directors.
Full text
__________________________________________________________________________________ Order in the matter of Remac Realty India Limited Page 1 of 20
__________________________________________________________________________________ Order in the matter of Remac Realty India Limited Page 2 of 20
__________________________________________________________________________________ Order in the matter of Remac Realty India Limited Page 3 of 20
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Source: SecMarx — sebi:WTM/GM/ERO/ERO/12428/2021-22. 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.