sebi:WTM/PS/16/IVD/ID-5/OCT/2012
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Facts / Headnote
Interim directions against serial numbers 1 to 5 continued; interim directions against serial numbers 9 to 94 revoked; interim directions against serial numbers 6 to 8 and 95 to 97 revoked and proceedings disposed of
Provisions invoked
- s. 19
Holding
The interim directions issued against PGEL and its directors (serial numbers 1 to 5) continue, while interim directions against entities at serial numbers 9 to 94 and serial numbers 6 to 8 and 95 to 97 are revoked with immediate effect.
Full text
2 of 5 of funds and/ or allotees in the IPO of PGEL and/ or indulged in fraudulent trading and/ or acted as conduits in the diversion of funds, etc.
3 of 5 21 Adcon Capital Services Limited AABCA6770D 22 Pasupati Enclave Pvt. Limited AAECP4278L 23 Satshri Multitrade Pvt. Limited AAOCS2721F 24 Frank Mercantile Pvt. Limited AABCF1808P 25 Nihal Mercantile Pvt. Limited AACCN8730D 26 Virgo Mercantile Pvt. Limited AACCV6426E 27 Lona Mercantile Pvt. Limited AABCL5709K 28 Jagdamba Complex Pvt. Limited AABCJ9074F 29 Mili Commodities Pvt. Limited AAFCM8822N 30 Paradise Tradecom Pvt. Limited AAECP8118P 31 Jasmine Dealcom Pvt. Limited AACCJ0675M 32 Chin Info Tech Pvt. Limited AADCC6173C 33 M. J. Commodities Pvt. Limited AAFCM4704R 34 Realnet Infraprojects Pvt. Limited AAECR9403R 35 Nimbus Industries Limited AAACN2708B 36 Supreme Communication Limited AAICS0078D 37 Safeco Projects Pvt. Limited AAJCS4155N 38 Sunlight Financial Advisory Pvt. Limited AALCS4533N 39 Amar Nath Singh AMBPS7345H 40 Amit Agarwal AGSPA4234C 41 Amit Agarwal AEXPA2254F 42 Aparna Banerjee ALBPB0397F 43 Arun Kumar Balakrishnan Chammincheri AHBPC3244Q 44 Aruna Chudaman Umredkar AAIPU7781L 45 Avinash Jajoo ACVPJ4002G 46 Awanish Singh BYOPS3032F 47 Bablu Shaw CDUPS3949H 48 Bharat Bachubhai Merchant AAIPM2574M 49 Chudman Anandrao Umredkar AAIPU9119L 50 Deepak Patwari AKHPP3737A 51 Devchand Mulji Shah AAPPS4210H 52 Devendra Kumar Lakhotia AAWPL8433G 53 Dilip Kumar Agarwal ACQPA6162K 54 Dilip Kumar Dhariwal AHGPD3335E 55 Dilip Ziledar Singh APFPS6547G 56 Dinesh Singh BQWPS9380L 57 Dinesh Sunderji Shah AAFPS3093N 58 Dipankar Sarkar AZCPS7890M 59 Gopal Sonker BRDPS0549F 60
4 of 5 5. I note that the submissions made by PGEL and its directors namely Mr. Pramod Gupta, Mr. Anurag Gupta, Mr. Vishal Gupta and Mr. Vikas Gupta (the entities at serial numbers 1 to 5 in Table A above) have not disproved the charges of suppressing material facts in the offer document of PGEL, utilization of IPO proceeds and ICDs. I also note that PGEL vide the interim order was directed to call back `32 crores (funds given as ICDs) and deposit the same in a separate escrow account. However, PGEL has not complied with this direction. I am of the considered view that no intervention is called for to either vacate the interim directions or modify the interim order, with respect to PGEL, Mr. Pramod Gupta, Mr. Anurag Gupta, Mr. Vishal Gupta and Mr. Vikas Gupta.
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Source: SecMarx — sebi:WTM/PS/16/IVD/ID-5/OCT/2012. 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.