sebi:WTM/RKA/EFD/162/2016
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Facts / Headnote
Violation found; noticees directed jointly and severally to refund RPS money with interest and restrained from securities market; interim order dated June 24, 2015 disposed off
Provisions invoked
- s. 19
- s. 28A
- s. 67(3)
- s. 56
- s. 73(2)
- s. 2(36)
Regulations
- Reg. 107
- Reg. 111
Parties
- Annex Infrastructure India Limited
- Shri Prasenjit Mazumder
- Shri Asim Das
- Shri Nirmal Kr. Jha
- Shri Asit Kumar Majumder
- Shri Subrat Kr. Mazumder
- Shri Shantonu Roy
- Shri Rabin Kumar Mal
Holding
The issue of Redeemable Preference Shares by Annex Infrastructure India Limited was a public issue made without complying with Sections 56, 60 and 73 of the Companies Act, 1956, and the company and its seven directors are jointly and severally liable to refund the money with 15% interest and are restrained from the securities market for four years or till refund, whichever is later.
Full text
Order in respect of Annex Infrastructure India Limited and others. Page 2 of 12 b. The number of allottees and amount raised under the Offer of Redeemable Preference Shares during the Financial Years 2010–11, 2011–12 and 2012–13, have been collated solely from the documents submitted with the complaints received by SEBI, against AIIL. It is, therefore, very likely that the actual number of allottees and amount mobilized by AIIL under such Offer could be much more than the figures ….”
Order in respect of Annex Infrastructure India Limited and others. Page 3 of 12 3. Vide the interim order, the noticees were also called upon to show cause as to why suitable
Order in respect of Annex Infrastructure India Limited and others. Page 4 of 12 registered office of AIIL, it was found that the said premises is in possession and control of another person. It was found that during the period when the said office was under control of the police, the possession was forcefully taken by the landlord of the premises and the same was let out to third party, without the knowledge of police. Taking note of the same, the police suo moto registered a FIR and initiated a criminal case against the landlord. The same has also been intimated to the Court of A.C.J.M. Barrackpore by way of status report. The said report mentions that most of the articles and documents laying in the registered office of AIIL were missing. While submitting the above, Shri Ashim Das also submitted that all the properties and assets of AIIL were seized by the Police and the same are now in the custody of the Court of A.C.J.M. Barrackpore. He requested for reasonable time to collect the certified true copies of all the documents from the Court of A.C.J.M. Barrackpore.
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Source: SecMarx — sebi:WTM/RKA/EFD/162/2016. 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.