sebi:WTM/MPB/EFD-1-DRA-4/101-103/2020
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 restraining Mefcom Agro Industries Limited and its Directors (Mr. Satyender Kumar, Mr. Ashok Marwah, Mr. Nihar Ranjan Mishra) from accessing the securities market for a period of two years; other noticees exonerated on certain charges.
Provisions invoked
- s. 11B
- s. 11
- s. 19
- s. 12A
- s. 12
- s. 291
Regulations
- Reg. 3
- Reg. 44
- Reg. 4
- Reg. 4(1)
- Reg. 10
- Reg. 12
- Reg. 200
- Reg. 3(a)
- Reg. 3(b)
- Reg. 2(1)
- Reg. 23
- Reg. 32
- Reg. 35
- Reg. 35(2)
- Reg. 27
- Reg. 44(f)
- Reg. 14(1)
- Reg. 118
- Reg. 120
Parties
- Mefcom Agro Industries Limited
- Mr. Satyender Kumar
- Mr. Ashok Marwah
- Mr. Nihar Ranjan Mishra
- Mr. Vijay Mehta
- Avisha Credit Capital Ltd.
- ISF Securities Ltd.
- Master Finlease Ltd.
- Vishvas Securities Ltd.
- BP Comtrade Pvt. Ltd.
- SIC Stocks & Services Pvt. Ltd.
- Cosmo Corporate Services Ltd.
Holding
Mefcom Agro Industries Limited and its Directors (Satyender Kumar, Ashok Marwah, Nihar Ranjan Mishra) were restrained from accessing the securities market for two years for making misleading corporate announcements and acquiring control without disclosure. Certain other noticees (SIC, PK, Shilpi Modi, and certain group entities on LTP manipulation charges) were not found liable on the specific charges examined.
Full text
______________________________________________________________________________________________________________ Order in the matter of Mefcom Agro Industries Limited Page 2 of 80
______________________________________________________________________________________________________________ Order in the matter of Mefcom Agro Industries Limited Page 3 of 80
______________________________________________________________________________________________________________ Order in the matter of Mefcom Agro Industries Limited Page 4 of 80
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Source: SecMarx — sebi:WTM/MPB/EFD-1-DRA-4/101-103/2020. 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.