sebi:WTM/MPB/EFD-1-DRA-IV/19/2018
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Facts / Headnote
Directions issued against Mr. Aman Kumar jointly and severally with TRIL and other Noticees to refund money with 15% interest within 180 days, and restrained from accessing the securities market for 4 years from completion of refunds.
Provisions invoked
- s. 19
- s. 28A
- s. 67(3)
- s. 73(2)
- s. 2(36)
- s. 60
- s. 27(2)
- s. 56
Parties
- M/s Trustline Realty Infra India Limited
- Mr. Mohammad Qamar
- Ms. Susweta Dutta
- Mr. Md. Mojahd
- Mr. Rafat Naz
- Mr. Md Aadil
- Mr. Aman Kumar
- Ms. Sarojani Devi
Holding
Mr. Aman Kumar was held liable as a promoter of TRIL and directed to jointly and severally refund the money collected through the offer and allotment of preference shares with 15% interest within 180 days, and was restrained from accessing the securities market for four years from completion of refunds.
Full text
Order in the matter of M/s Trustline Reality Infra India Limited Page 2 of 8 11,56,763 from at least 52 allottees. The number of allottees and funds mobilized has been collated from the documents submitted with the complaints received by SEBI. Therefore, it was concluded that the actual number of allottees and amount mobilized could be more than the above indicated figures.
Order in the matter of M/s Trustline Reality Infra India Limited Page 3 of 8 7. In view of the prima facie findings on the violations, the following directions were issued in the said interim order dated April 05, 2017 with immediate effect. i. “TRIL and the abovenamed Directors and Promoters shall not access the securities market or buy, sell or otherwise deal in the securities market, either directly or indirectly, or associate themselves with any listed company or company intending to raise money from the public;
Order in the matter of M/s Trustline Reality Infra India Limited Page 4 of 8 dealing in securities in any manner whatsoever, directly or indirectly, for a period of four years from the date of effecting the refund as directed above.
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Source: SecMarx — sebi:WTM/MPB/EFD-1-DRA-IV/19/2018. 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.