sebi:WTM/MPB/ISD/33/2017
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Facts / Headnote
Revoked - actions envisaged in SEBI letter dated August 7, 2017 and consequential stock exchange actions against Cybermate Infotek Limited revoked; representation dated August 18, 2017 disposed of
Provisions invoked
- s. 11B
- s. 11(4)
- s. 19
- s. 11(1)
Parties
- Cybermate Infotek Limited
Holding
SEBI revoked the pre-emptive interim trading restrictions imposed vide its letter dated August 7, 2017 against Cybermate Infotek Limited and disposed of the company's representation dated August 18, 2017.
Full text
Order in the matter of Cybermate Infotek Limited Page 2 of 10 (b) Misusing their respective books of accounts/funds including facilitation of accommodation entries to the detriment of minority shareholders and therefore reneging on the fiduciary responsibility cast on the board, controlling shareholders and key management person (KMP)
Order in the matter of Cybermate Infotek Limited Page 3 of 10 whether company is a going concern, its business model, status of compliance with listing requirements, etc.
Order in the matter of Cybermate Infotek Limited Page 4 of 10 3. SEBI is directed to dispose of the representation made by the appellant as expeditiously as possible and in any event within a period of four weeks from today. It is made clear that passing of any order on the representation made by the appellant would not preclude SEBI from further investing the matter and initiate appropriate proceedings if deemed fit.”
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Source: SecMarx — sebi:WTM/MPB/ISD/33/2017. 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.