sebi:WTM/SKM/CFID/4/2020-21
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Facts / Headnote
Interim directions restraining SIL from disposing of its assets or effecting transactions under the Framework agreement dated June 23, 2020; BSE directed to appoint a forensic auditor to examine books of accounts for April 1, 2019 to December 31, 2020; Company given 14 days to file reply and indicate if it seeks personal hearing.
Provisions invoked
- s. 11
- s. 11(4)
- s. 19
- s. 11(1)
- s. 12A
- s. 11(2)
- s. 2(76)
- s. 55(2)
Regulations
- Reg. 30
Parties
- SunEdison Infrastructure Limited
Holding
SEBI restrained SunEdison Infrastructure Limited from disposing of or alienating its assets, including effecting transactions under the Framework agreement dated June 23, 2020, and directed BSE to appoint a forensic auditor to examine the Company's books of accounts for the period April 1, 2019 to December 31, 2020.
Full text
Interim Order in the matter of SunEdison Infrastructure Limited Page 1 of 36 WTM/SKM/CFID/4/2020-21 SECURITIES AND EXCHANGE BOARD OF INDIA
Interim Order in the matter of SunEdison Infrastructure Limited Page 2 of 36 and consequently, the combined shareholding of the two promoters increased to 86.84% of the total shareholding of the Company wherein APCAPL held 42.84% and STPL (promoted by Mr. Jain) was holding 44% of total shareholding of the Company.
Interim Order in the matter of SunEdison Infrastructure Limited Page 3 of 36 5. Subsequently, the Company, vide another letter dated July 16, 2020, has disclosed to BSE regarding amendment in the above mentioned SSHA and as per the amended SSHA executed by the Company with SILRES Energy, Mr. Agarwal, Mr. Jain, Mr. Gopalan, Fenice and South Lake One LLC (“South Lake”), South Lake has also agreed to invest US $10,000,000 in SILRES Energy in the form of CCPS at a face value of INR 10 per CCPS. For the purpose of this order, Fenice and South Lake are collectively referred to as ‘Stretegic Investors’.
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Source: SecMarx — sebi:WTM/SKM/CFID/4/2020-21. 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.