sebi:WTM/MPB/EFD-1-DRA-IV/53/2019
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Facts / Headnote
TRML and its directors restrained from mobilizing funds, accessing securities market, and disposing of assets; TRML directed to refund money with interest at 15% under section 73(2) of Companies Act, 1956; certain directors given 365 days to produce competent authority order regarding forgery allegations pending which directions against them suspended.
Provisions invoked
- s. 19
- s. 55A
- s. 73
- s. 28A
- s. 4A
- s. 257
- s. 67(3)
- s. 67
- s. 260
- s. 56
- s. 73(2)
- s. 73(1)
- s. 2(36)
- s. 60
- s. 67(1)
- s. 56(1)
- s. 56(3)
- s. 67(2)
- s. 56(4)
- s. 73(3)
Regulations
- Reg. 107
Holding
TRML's offer of Redeemable Cumulative Preference Shares (RCPS) to at least 10,759 investors mobilizing Rs. 9.19 Crores constituted a public issue under the first proviso to Section 67(3) of the Companies Act, 1956, and TRML violated Sections 56(1), 56(3), 2(36) read with 60, 73(1), 73(2) and 73(3) of that Act. TRML and specified directors are liable to refund the money with interest at 15% under Section 73(2).
Full text
Order in the matter of M/s Togo Retail Marketing Limited (Earlier Known as "M/s Multi – Ex Marketing & Communications Limited")
Order in the matter of M/s Togo Retail Marketing Limited (Earlier Known as "M/s Multi – Ex Marketing & Communications Limited")
Order in the matter of M/s Togo Retail Marketing Limited (Earlier Known as "M/s Multi – Ex Marketing & Communications Limited")
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Source: SecMarx — sebi:WTM/MPB/EFD-1-DRA-IV/53/2019. 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.