sebi:WTM/MPB/ISD/70/2017
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Facts / Headnote
Actions envisaged in SEBI letter dated August 07, 2017 revoked; representation dated August 08, 2017 disposed of
Provisions invoked
- s. 11B
- s. 11(4)
- s. 19
- s. 11(1)
Parties
- Signet Industries Limited
Holding
SEBI revoked the actions envisaged in its letter dated August 07, 2017 and consequential Stock Exchange actions against Signet Industries Limited and disposed of the company's representation dated August 08, 2017.
Full text
Order in the matter of Signet Industries Limited Page 2 of 14 (b) Misusing the books of accounts/funds of the company 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 Signet Industries Limited Page 3 of 14 respect of all the listed securities as identified by MCA and communicated by SEBI, with effect from August 8, 2017.
Order in the matter of Signet Industries Limited Page 4 of 14 exchanges to treat, inter alia, the appellant company as a ‘suspected shell company’ and suspend the daily trading in the securities of the appellant company on the stock exchanges by moving the securities of the appellant company to Stage VI of Graded Surveillance Measure (“GSM” for short) is the question raised in this appeal.
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Source: SecMarx — sebi:WTM/MPB/ISD/70/2017. 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.