sebi:WTM/PS/09/IVD/ID-2/JUNE/2013
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Facts / Headnote
Confirmed ad interim ex-parte directions dated December 28, 2011; order to remain in force till further directions
Provisions invoked
- s. 19
- s. 12A
Regulations
- Reg. 3
Parties
- Tijaria Polypipes Limited
- Mr. Alok Jain Tijaria
- Mr. Vikas Jain Tijaria
- Mr. Vineet Jain Tijaria
- Mr. Praveen Jain Tijaria
- Mr. Santosh Kumar
- Mr. Padam Prakash Som Prakash Bhatnagar
Holding
SEBI confirmed the ad interim ex-parte order dated December 28, 2011 against Tijaria Polypipes Limited and its seven directors, including the direction to call back diverted IPO proceeds into an interest-bearing escrow. The directions shall remain in force till further directions.
Full text
Page 2 of 24 the Company were listed on the Bombay Stock Exchange Limited (hereinafter referred to as "BSE") and the National Stock Exchange of India Limited (hereinafter referred to as "NSE").
Page 3 of 24 Name of the Entity Amount Shri Nath Trading Co. 2,00,00,000 Neelkanth Enterprise 2,00,00,000 V R International 50,00,000 Shastika Enterprises 50,00,000 Sanjivani Gems Private Limited 25,20,548 Shareware Finvin Private Limited 50,10,274 Bellisima Impex 10,36,67,123 Marine Gems Private Limited 75,89,384 Balasaria Holdings Private Limited 1,01,04,795 Nihita Finance 2,51,30,685 Total 20,40,22,809
Page 4 of 24 thereafter. Though inspection was done in the month of February 2012, the Company did not file its reply nor sought for a personal hearing thereafter, when the interim order had specifically advised that the persons/entities (against whom the same was passed) may file their objections, if any, and, if they so desire, avail themselves of an opportunity of personal hearing before SEBI. Thereafter, the Company sent certain letters during August and September 2012, wherein it had informed that they had received summons from Court to appear in a case filed by Shrinath Trading Co. (claimed to be one of its machine suppliers).
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Source: SecMarx — sebi:WTM/PS/09/IVD/ID-2/JUNE/2013. 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.