sebi:WTM/RKA/ISD/113/2014
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Restrained the 10 named entities from accessing the securities market and prohibited them from buying, selling or dealing in securities or any instrument exchangeable or convertible into securities, directly or indirectly, till further directions, pending investigation.
Provisions invoked
- s. 11B
- s. 11
- s. 19
- s. 11(1)
- s. 12A
- s. 77(2)
Regulations
- Reg. 3
- Reg. 2(1)(c)
- Reg. 4(1)
- Reg. 3(b)
- Reg. 4(2)(c)
Holding
SEBI prima facie found RPL with its directors in collusion with Arun Panchariya, Vintage, Mukesh Chauradiya, Pan Asia and IFCF employed a fraudulent GDR facade without receipt of consideration and restrained all 10 entities from the securities market till further orders pending investigation.
Full text
________________________________________________________________________________ In the matter of Rasoya Protein Ltd. Page 2 of 19
________________________________________________________________________________ In the matter of Rasoya Protein Ltd. Page 3 of 19
__________________________ In the matter of Rasoya Protein Ltd. loan of USD 31,995,209.73 proceeds of USD 31,995,20 maintained with Euram Ban from Euram Bank for the su of issuance of GDRs on the b
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Source: SecMarx — sebi:WTM/RKA/ISD/113/2014. 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.