sebi:WTM/RKA/CFD/65/2015
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Facts / Headnote
Interim order cum show cause notice dated February 12, 2015 disposed of; directions issued including refund of ₹6,15,88,300 with 15% interest, market access restrictions for 18 months, and association restrictions for directors.
Provisions invoked
- s. 19
- s. 73
- s. 28A
- s. 67(3)
- s. 67
- s. 56
- s. 73(1)
- s. 2(36)
- s. 60
- s. 67(1)
Regulations
- Reg. 107
- Reg. 18
Parties
- Shah Group Builders Limited
- Nalin V. Shah
- Neelam N. Shah
- Nirav N. Shah
Holding
The allotments of equity shares by SGBL during July 28, 2008 to November 15, 2008 to 1521 persons constituted public issues, and the Noticees failed to comply with the Companies Act, 1956 and DIP Guidelines/ICDR Regulations, requiring them to refund ₹6,15,88,300 with 15% interest to allottees.
Full text
___________________________________________________________________________ Order in the matter of Shah Group Builders Limited Page 2 of 13
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___________________________________________________________________________ Order in the matter of Shah Group Builders Limited Page 4 of 13
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Source: SecMarx — sebi:WTM/RKA/CFD/65/2015. 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.