sebi:WTM/PS/77/ERO/BLO/MAR/2015
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Facts / Headnote
Ex-parte interim order restraining the company and its promoters/directors from mobilising funds, disposing of assets, and dealing in securities; show cause notice issued with 21 days to reply and seek personal hearing.
Provisions invoked
- s. 11A
- s. 11
- s. 24
- s. 19
- s. 21
- s. 55A
- s. 73
- s. 4A
- s. 67(3)
- s. 67
- s. 32
- s. 81
- s. 56
- s. 73(1)
- s. 2(36)
- s. 60
- s. 73(2)
- s. 56(1)
- s. 56(3)
- s. 621
Regulations
- Reg. 7
- Reg. 2(1)
- Reg. 107
- Reg. 57
- Reg. 25
- Reg. 6
- Reg. 4(2)
- Reg. 3
- Reg. 59
- Reg. 30
- Reg. 36
- Reg. 46
- Reg. 47
- Reg. 5
Parties
- Green India Infra Projects Limited
- Mr. Pradeep Kumar Singh
- Mr. Panchanan Pradhan
- Mr. Trinath Panda
- Ms. Snehlata Singh
- Ms. Suchitra Rani Panda
- Mr. Sandeep Kumar Singh
- Mr. Debasis Padhy
- Mr. Sanjeeb Kumar Das
Holding
SEBI passed an ex-parte interim order restraining Green India Infra Projects Limited and its promoters/directors from mobilising further funds through the issue of Secured Optionally Convertible Debentures or any other securities, disposing of assets, and dealing in the securities market, and issued a show cause notice as to why final directions including refund should not be imposed.
Full text
Page 2 of 14 a. Copy of Prospectus/Red Herring Prospectus/Statement in lieu of prospectus/information memorandum filed with RoC for issuance of debentures/preference shares. b. Date of opening and closing of the subscription list for the said debentures/ preference shares. c. Details regarding the number of application forms circulated inviting subscription for debentures/ preference shares. d. Details regarding the number of applications received, number of allotees and list of such allottees. e. Number of debentures/ preference shares allotted and value of such allotment against each allottee’s name. f. Details regarding subscription amount raised. g. Date of allotment of the debenture/ preference shares. h. Copies of the minutes of board/ committee meeting in which the resolution has been passed for allotment. i. Date of dispatch of debenture/ preference share certificates, etc. j. Copies of application forms, pamphlets, advertisements and other promotional material circulated for issuance of debentures/ preference shares. k. Terms and conditions of the issue of debentures/ preference shares.
Page 3 of 14 concerns and that as per the directions of the Hon'ble Supreme Court, the Central Bureau of Investigation ("the CBI") has taken over the investigation.
Page 4 of 14 f) Further, from the Balance Sheet as on March 31, 2011, it is noted under the item "Loan Funds- Secured Loans-Schedule 3)", the Company has issued 20% Secured Optionally Convertible Debentures to the tune of Rs.5,00,00,000/-. IL & FS Trust Company limited was the Debenture Trustee for the issue.
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Source: SecMarx — sebi:WTM/PS/77/ERO/BLO/MAR/2015. 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.