sebi:WTM/GM/IVD/33/2020-21
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Facts / Headnote
Ad-interim restraint imposed on promoters of DHFL from accessing the securities market and associating with listed/public companies and SEBI-registered intermediaries; show cause notice issued as to why final directions under Sections 11(4) and 11B of the SEBI Act should not be issued.
Provisions invoked
- s. 19
- s. 12A
- s. 45
- s. 25(2)
- s. 227
- s. 49
- s. 50
- s. 66
- s. 45I
- s. 60(5)
- s. 43
Regulations
- Reg. 11
- Reg. 3
- Reg. 4(1)
- Reg. 4(2)(f)
- Reg. 3(b)
- Reg. 4(2)(r)
- Reg. 4(2)(k)
- Reg. 12A(a)
Holding
SEBI prima facie found that the promoters of DHFL violated Section 12A(a),(b),(c) of the SEBI Act and Regulations 3(b),(c),(d), 4(1), 4(2)(f),(k),(r) of the PFUTP Regulations, 2003 by causing fraudulent transactions to be shown as bona fide in published financial statements, and issued ad-interim directions restraining them from accessing the securities market and associating with listed companies and registered intermediaries pending show cause.
Full text
__________________________________________________________________________________________ Order in the matter of DHFL Page 2 of 11
__________________________________________________________________________________________ Order in the matter of DHFL Page 3 of 11
__________________________________________________________________________________________ Order in the matter of DHFL Page 4 of 11
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Source: SecMarx — sebi:WTM/GM/IVD/33/2020-21. 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.