sebi:WTM/MPB/EFD-1-DRA-IV/93/2020
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Shri Sujit Acharjee and Shri Sumanta Modak restrained from accessing/dealing in the securities market and from associating with any listed public company, public company intending to raise money from the public, or SEBI-registered intermediary for 4 years, with credit for restraint already suffered; operation against Sujit Acharjee deferred for 365 days pending competent authority order on forgery claim.
Provisions invoked
- s. 19
- s. 27
- s. 73
- s. 67(3)
- s. 56
- s. 73(2)
- s. 2(36)
- s. 60
Regulations
- Reg. 23
Parties
- Sujit Acharjee
- Sumanta Modak
Holding
BHAPL made a deemed public issue of Redeemable Preference Shares in violation of the Companies Act and DIP Guidelines read with ICDR Regulations, and noticees Sujit Acharjee and Sumanta Modak as directors during their respective tenures failed to ensure refund and are liable to be debarred for four years.
Full text
Order in respect of Sujit Acharjee and Sumanta Modak In the matter of M/s Bishal Horticulture and Animal Projects Limited Page 2 of 14
Order in respect of Sujit Acharjee and Sumanta Modak In the matter of M/s Bishal Horticulture and Animal Projects Limited Page 3 of 14
Order in respect of Sujit Acharjee and Sumanta Modak In the matter of M/s Bishal Horticulture and Animal Projects Limited Page 4 of 14
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Source: SecMarx — sebi:WTM/MPB/EFD-1-DRA-IV/93/2020. 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.