sebi:WTM/PS/IVD/DEC/41/2011
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Prohibited the noticees from accessing and dealing in the securities market till further orders; prohibited Brooks from raising further capital; directed Brooks to call back ICDs to Suryamukhi Projects P. Ltd. and Neo Power Universal FZ LLC and deposit those amounts with all unutilized IPO proceeds in an interest-bearing escrow account; prohibited BRLM and its director from taking any new issue assignment; directions effective immediately pending investigation.
Provisions invoked
- s. 19
Regulations
- Reg. 13
- Reg. 57
Holding
By ad interim ex-parte order pending investigation, SEBI prohibited Brooks Laboratories Ltd., its directors/officers and its BRLM D&A Financial Services P. Ltd. and its director from accessing/dealing in the securities market, restrained Brooks from raising further capital and the BRLM from new mandates, and directed escrow of unutilized IPO proceeds with recall of ICDs advanced to Suryamukhi Projects and Neo Power.
Full text
Page 2 of 16 Utilization of the issue proceeds: 4. Brooks in its prospectus dated August 22, 2011 has given a detailed break-up as to how the issue proceeds shall be utilized as estimated by its management:- (` in crores)
Page 3 of 16 2. Konark Commerce & Industries Ltd. (Company listed at Calcutta Stock Exchange Ltd.) - Ajay Kumar Agarwal - Pramod Ramdin Sharma - Pulak Bagchi - Neeraj Kedia - Raj Narayan Pandey 5,50,00,000 5,50,00,000
Page 4 of 16 8. Pioneer Prodev P. Ltd. - Umesh Singh - Neeraj Kedia 65,00,000 65,00,000 9. Shardaraj Tradefin Ltd. (Company listed at Calcutta Stock Exchange Ltd.) - Bajrang Kumar Sultania - Pulak Bagchi - Neeraj Kedia 50,00,000 50,00,000
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:WTM/PS/IVD/DEC/41/2011. 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.