sebi:WTM/SR/CFD/27/04/2017
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Facts / Headnote
Confirmed the directions issued vide the Interim Order dated June 15, 2016 against HRB Floriculture Limited
Provisions invoked
- s. 19
- s. 12A
- s. 21
Regulations
- Reg. 30(1)
- Reg. 38
- Reg. 31A
- Reg. 31A(7)(b)
- Reg. 31(A)
- Reg. 31A(2)
Parties
- HRB Floriculture Limited
- Krishan Kumar Parwal
- Sunita Parwal
- Vinod Kumar Parwal
- Nirmala Devi Parwal
- Basanti Devi Parwal
- Hansraj Parwal
- Ram Janki Devi Parwal
- Vinesh Kumar Bhargava
Holding
HRB Floriculture Limited continues to remain non-compliant with the 25% minimum public shareholding requirement and the directions issued vide the Ad-Interim Ex-Parte Order dated June 15, 2016 are confirmed against the company.
Full text
Page 2 of 15 b. Total number of shares as per the shareholding pattern of HRB Floriculture for the quarter ended September 30, 2010, was 51,00,200 shares.
Page 3 of 15 1.4 Thereafter, vide an e–mail dated August 6, 2014, SEBI sought clarification from HRB Floriculture inter alia in respect of the reclassification of the abovementioned 6 entities at paragraph 1.3(f)(3)–(8). In its response vide an e–mail dated August 7, 2014, HRB Floriculture enclosed a copy of the letter dated November 22, 2010, purportedly sent to BSE, stating that the company confirmed the change in status of the abovementioned 6 entities at paragraph 1.3(f)(3)–(8) from ‘Promoter’ to ‘public’ category. HRB Floriculture also enclosed copies of letters each dated October 30, 2010, received by the company from the abovementioned 6 entities at paragraph 1.3(f)(3)–(8) in which it was stated that they were no longer associated with the Company as ‘Promoters’ and requested the Company to confirm their status as ‘public shareholders’.
Page 4 of 15 Ad–Interim Ex Parte Order dated June 15, 2016 – 2.1 Vide an Order dated June 15, 2016 (“Interim Order”), SEBI issued the following directions against HRB Floriculture, –
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Source: SecMarx — sebi:WTM/SR/CFD/27/04/2017. 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.