sebi:WTM/MB/IVD/ID3/11095/2020-21
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Directions issued against the Noticees for violation of MPS requirements; no directions against Falcon and Dunlop as both are under liquidation.
Provisions invoked
- s. 19
- s. 12A
- s. 11C
- s. 21
- s. 291
- s. 12A(1)
Regulations
- Reg. 17
- Reg. 103
- Reg. 38
- Reg. 3
Parties
- Falcon Tyres Limited
- Mr. Pawan Kumar Ruia
- Mr. Sunil Bhansali
- Mr. S. Ravi
- Mr. Mohan Lall Chauhan
- Mr. Damodar Prasad Dani
Holding
The Noticees were held liable for violation of Rule 19(A) of SCRR and clause 40A of Listing Agreement for non-compliance with Minimum Public Shareholding (MPS) requirements by Falcon Tyres Limited and Dunlop India Limited through a scheme of loan assignment and preferential allotment designed to circumvent MPS requirements. No directions were issued against Falcon and Dunlop themselves as both companies were under liquidation.
Full text
___________________________________________________________________________________________________________ Order in the matter of Falcon Tyres Limited and Dunlop India Limited Page 1 of 53
___________________________________________________________________________________________________________ Order in the matter of Falcon Tyres Limited and Dunlop India Limited Page 2 of 53
___________________________________________________________________________________________________________ Order in the matter of Falcon Tyres Limited and Dunlop India Limited Page 3 of 53
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Source: SecMarx — sebi:WTM/MB/IVD/ID3/11095/2020-21. 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.