sebi:WTM/RKA/41/ISD/2013
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Ad-interim ex-parte order restraining 37 entities from accessing and dealing in securities market till further directions, directing them to jointly and severally keep Rs 6,00,11,512 plus other sale proceeds in escrow within 30 days, and restraining SMS Techsoft (India) Limited from raising additional capital, pending investigation and final order.
Provisions invoked
- s. 11B
- s. 11
- s. 19
- s. 11(1)
- s. 12A
- s. 21
- s. 173
Regulations
- Reg. 3
- Reg. 2(1)(c)
- Reg. 3(a)
- Reg. 77(1)
Holding
Pending detailed investigation, SEBI passed an ad-interim ex-parte order restraining SMS Techsoft, its 3 promoters/directors and the 28 preferential allottees plus Rajesh Ranka from the securities market and directing escrow of Rs 6,00,11,512 of prima facie ill-gotten profits. SMS Techsoft was also restrained from raising additional capital.
Full text
Page 2 of 19 3. SMS Tech had a paid up capital of `5,05,72,000/- comprising of 50.57 lakh shares of `10/- each as on quarter ending December, 2011 with only one promoter namely Shri V. Jagadish who was holding only 1,410 shares, i.e., 0.03% of the share capital of the company.
Page 3 of 19 20. Mitesh Kanaiyalal Thakkar AHQPT0178H 997000 21. Mukeshbhai Shantilal Thakkar AJBPT8789M 996000 22. Mulchand Ganeshmal Jain ABBPJ6373M 998000
Page 4 of 19 19. K Rajagopal AGCPR8130L number 24 and Shri Rajesh Ranka have same address. As per KYCs of Monarch Projects & Finmarket Pvt. Ltd., entities at serial number 26 and 28 share common mobile number with Shri Rajesh Ranka. Serial number 17 and 28 received funds from Shri Rajesh Ranka, as described hereinafter.
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/RKA/41/ISD/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.