sebi:WTM/RKA/ISD/72/2012
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Facts / Headnote
Directions issued vide the ad interim ex-parte order dated August 03, 2012 against the noticee revoked; order without prejudice to any enforcement action on completion of investigation.
Provisions invoked
- s. 19
Parties
- M/s North Eastern Publishing & Advertising Company Limited (PAN AAACN6958M)
Holding
The Whole Time Member revoked the ad interim ex-parte directions issued against M/s North Eastern Publishing & Advertising Company Limited, holding that the case at that stage did not warrant continuation of the restraint during the pendency of the investigation.
Full text
Page 2 of 5 for deciding on the allegations against it. In view of the same, I proceed to deal with the matters with respect to the noticee on the basis of material available on record and its written replies.
Page 3 of 5 Mr. Ajit Jain and Mr. Manish Agarwal are directors in several companies having their office at 5, Gorkhy Terrace, 2nd Floor, Kolkota on the basis of which it has been alleged that the noticee is related to them. The noticee is not the owner of premises having the aforesaid address and it cannot be related to each and every entity having their registered office at that address. Hence, the inference that noticee is related to Mr. Ajit Jain and Mr. Manish Agarwal solely on the fact that they are directors in some of the companies having their registered office at 5, Gorkhy Terrace, 2nd Floor, Kolkota is wrong and erroneous.
Page 4 of 5 the lender have full discretion to liquidate the Stock to the extent of shortfall and to cover other dues (if any) pertains to the account".
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Source: SecMarx — sebi:WTM/RKA/ISD/72/2012. 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.