sebi:WTM/MPB/EFD-1-DRA-IV/111/2020
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Facts / Headnote
Directions issued against Mr. Sumantra Sinha, Mr. Rohit Das and Mr. Arindam Pal vide interim order dated February 16, 2017 revoked.
Provisions invoked
- s. 19
- s. 28A
- s. 67(3)
- s. 73(2)
- s. 94
- s. 149
Parties
- Mr. Sumantra Sinha
- Mr. Rohit Das
- Mr. Arindam Pal
Holding
The directions issued against Mr. Sumantra Sinha, Mr. Rohit Das and Mr. Arindam Pal vide the interim order dated February 16, 2017 are revoked, as the allotments of RPS and NCDs occurred after their resignation from the directorship of Angel Agritech Limited.
Full text
Order in the matter of Angel Agritech Limited Page 2 of 18 Regulations, 2008 (hereinafter referred to as “ILDS Regulations”).
Order in the matter of Angel Agritech Limited Page 3 of 18 iii. AAL and the abovenamed Directors shall not dispose of, alienate or encumber any of its/their assets or not divert any funds raised from public either through the offer and allotment of preference shares or through the offer and allotment of debentures; iv. AAL and the abovenamed Directors shall co-operate with SEBI and shall furnish all information/documents in connection with the offer and allotment of preference shares and offer and allotment of debentures including the documents sought vide letters dated January 30 2014 and the summons dated January 09, 2015; and v. Dristi Social Welfare Trust and its trustee Ms. Nabina Jahan shall not henceforth act as debenture trustee in respect of debentures of AAL and shall not take up any new assignment or involvement in any new issue of securities in a similar capacity”.
Order in the matter of Angel Agritech Limited Page 4 of 18 given the opportunity to file their replies, within 21 days from the date of receipt of the said interim order. They were also directed to furnish an inventory of their assets in their reply. The order further stated that the concerned persons may also indicate whether they desired to avail themselves an opportunity of personal hearing on a date and time to be fixed on a specific request made in that regard within 90 days from the date of receipt of the interim order.
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Source: SecMarx — sebi:WTM/MPB/EFD-1-DRA-IV/111/2020. 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.