sebi:WTM/MPB/EFD-1-DRA-IV/166/2018
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Facts / Headnote
Directions at paragraphs 55(f), (g), (i), (j) and (m) of the Order dated November 21, 2017 made applicable to Shri Prabal Pratap Singh Yadav; SEBI directed to file FIR/complaint for forged courier receipt
Provisions invoked
- s. 19
- s. 73
- s. 73(2)
- s. 560
- s. 168
Parties
- Shri Prabal Pratap Singh Yadav
Holding
The Noticee, Shri Prabal Pratap Singh Yadav, is a continuing director of Nirmal Infrahome Corporation Limited and the directions at paragraphs 55(f), (g), (i), (j) and (m) of the Order dated November 21, 2017 are made applicable to him, including a 4-year debarment from the securities market.
Full text
Order in the matter of M/s Nirmal Infrahome Corporation Limited Page 2 of 12 Court of Madras in Madhavan Nambiar vs. Registrar of Companies (2002 108 Cas 1 Mad): " 13. …. A director either full time or part time, either elected or appointed or nominated is bound to discharge the functions of a director and should have taken all the diligent steps and taken care in the affairs of the company.
Order in the matter of M/s Nirmal Infrahome Corporation Limited Page 3 of 12 the company. (b) Nirmal Infrahome, Shri Prabal Pratap Singh Yadav, Shri Harish Sharma, Shri Abhishek S. Chauhan are permitted to sell the assets of the Company for the sole purpose of making the refunds as directed above and deposit the proceeds in an Escrow Account opened with a nationalized Bank. Such proceeds shall be utilized for the sole purpose of making refund/repayment to the investors till the full refund/repayment as directed above is made. (c) Nirmal Infrahome and on its behalf the present director who joined subsequent to the issues (Shri Prabal Pratap Singh Yadav) and Shri Phool Singh Choudhary, Shri Harish Sharma, Shri Abhishek S. Chauhan in their personal capacity to make refund, shall issue public notice, in all editions of two National Dailies (one English and one Hindi) and in one local daily with wide circulation, detailing the modalities for refund, including the details of contact persons such as names, addresses and contact details, within 15 days of this Order coming into effect. (d) After completing the aforesaid repayments, Nirmal Infrahome and on its behalf the present director who joined subsequent to the issues (Shri Prabal Pratap Singh Yadav) and Shri Phool Singh Choudhary, Shri Harish Sharma, Shri Abhishek S. Chauhan in their personal capacity shall file a report of such completion with SEBI, within a period of three months from the date of this order, certified by two i
Order in the matter of M/s Nirmal Infrahome Corporation Limited Page 4 of 12 manner for a period of 4 (four) years from the date of this Order. The above said person is also restrained from associating themselves with any listed public company and any public company which intends to raise money from the public, or any intermediary registered with SEBI for a period of 4 (four) years from the date of this order.
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Source: SecMarx — sebi:WTM/MPB/EFD-1-DRA-IV/166/2018. 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.