sebi:WTM/KV/EFD/DRA1/30326/2024-25
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
IWIL and its directors held liable for violations of Companies Act, 1956 and SEBI (NCRPS) Regulations, 2013; directions issued including refund, market access restrictions, and asset inventory; interim order against Noticee No. 10 revoked
Provisions invoked
- s. 11B
- s. 11
- s. 19
- s. 73
- s. 4A
- s. 67(3)
- s. 67
- s. 58
- s. 56
- s. 2(36)
- s. 60
- s. 73(2)
- s. 73(1)
- s. 67o
Regulations
- Reg. 16
- Reg. 201
Parties
- Indus Weir Industries Ltd. (IWIL)
- Prince Rana
- Anuresh
- Anil Kumar Trivedi
- Rasheed Quamar
- Mazharul Quadri
- Parthsarthi Adhikari
- Shyam Sunder Seth
- Paras Nath Sharma
- Ratnesh Kumar Pandey
- Balchand Chaurasiya
Holding
IWIL's issuance of RPS to 32,454 investors during 2010-11 to 2013-14 was a public issue, not a private placement, and the Company and its directors violated Sections 56, 60, 67, 73 of the Companies Act, 1956 and Regulation 16 of SEBI (NCRPS) Regulations, 2013. Noticee No. 2 and Noticee No. 3 (Managing Directors) are jointly and severally liable to refund the amount mobilised from investors.
Full text
________________________________________________________________________________ Order in the matter of Indus Weir Industries Ltd. Page 2 of 34
________________________________________________________________________________ Order in the matter of Indus Weir Industries Ltd. Page 3 of 34
________________________________________________________________________________ Order in the matter of Indus Weir Industries Ltd. Page 4 of 34
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:WTM/KV/EFD/DRA1/30326/2024-25. 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.