sebi:WTM/SM/IVD/ID2/11373/2021-22
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Facts / Headnote
All Noticees restrained from accessing the securities market and prohibited from buying, selling or otherwise dealing in securities, directly or indirectly, or being associated with the securities market in any manner, for a period of two (02) years from the date of the order.
Provisions invoked
- s. 19
- s. 11(1)
- s. 12A
- s. 205
Regulations
- Reg. 4
- Reg. 3
- Reg. 3(a)
Parties
- Pankaj Kumar (Noticee no. 1)
- Prashant Mulekar (Noticee no. 2)
- Kiran Kulkarni (Noticee no. 3)
- Geodesic Limited (Company)
Holding
The Noticees (Promoter-Directors of Geodesic Limited) were held to have violated Section 12A(a),(b),(c) of the SEBI Act and Regulations 3(a),(b),(c),(d), 4(1) & 4(2)(e),(f),(k),(r) of the PFUTP Regulations by making misleading announcements of buy-back of shares and dividend payment with no intention to honour them, in order to artificially inflate the scrip price. All Noticees were restrained from accessing the securities market for a period of two years.
Full text
Order in the matter of Geodesic Limited Page 1 of 27 WTM/SM/IVD/ID2/11373/2021-22 SECURITIES AND EXCHANGE BOARD OF INDIA
Order in the matter of Geodesic Limited Page 2 of 27 v. Geodesic Technology Solutions Limited (GTS) (Hong Kong) (e) The following persons, apart from being Promoters of the Company were also on the Board of the Company, as on April 01, 2012: Table no. 1 Sr. No. Full Name Designation 1 Kiran Kulkarni (Noticee no.3) Managing Director 2 Pankaj Kumar (Noticee no.1) Chairman/Director 3 Prashant Mulekar (Noticee no. 2) Executive Director & Compliance Officer
Order in the matter of Geodesic Limited Page 3 of 27 Quarter ended Dec 2012 Quarter ended March 2013 Quarter ended June 2013 (Source Moneycontrol) Total income 102.23 68.09 516.95 Expenditure 104.70 66.40 381.69 Net Profit -18.96
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Source: SecMarx — sebi:WTM/SM/IVD/ID2/11373/2021-22. 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.