sebi:WTM/PS/130/CFD/JAN/2016
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Facts / Headnote
Interim order dated June 04, 2013 confirmed against the Company, its directors, promoters and promoter group; directions to remain in force till further directions.
Provisions invoked
- s. 19
- s. 21
- s. 12A
Parties
- Golkonda Engineering Enterprises Limited
- its directors
- promoters
- promoter group
Holding
SEBI confirmed the interim order directing the Company to comply with minimum public shareholding (MPS) requirements, finding continuous non-compliance with Rule 19A of the SCRR and Clause 40A of the Listing Agreement. The directions remain in force till further directions.
Full text
Page 2 of 5 equity shares of the Company are listed on the Bombay Stock Exchange Limited (‘BSE’). The scrip of the Company is suspended for trading.
Page 3 of 5 the said 32,50,000 shares with the Hon’ble High Court of Judicature of Hyderabad on July 08, 2014. b. The Hon’ble High Court had directed that a meeting of equity shareholders of the Company be convened for the purpose of considering and approving the proposed scheme. In compliance with the order of Hon’ble High Court, the meeting of the equity shareholders was held on September 06, 2014 and the scheme was approved by the shareholders with requisite majority. c. On completion of the scheme for cancellation, the public shareholding of the Company will be 48.03%, which will be in compliance with the extant requirements of MPS.
Page 4 of 5 2002 was 4,65,150 and the public shareholding was 4,29,920. The same is apparently contradictory to the submissions of the Company. In view of the discrepancy in figures and in the absence of any other cogent source of information, I am proceeding with the shareholding pattern as submitted by the Company.
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Source: SecMarx — sebi:WTM/PS/130/CFD/JAN/2016. 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.