sebi:WTM/SR/CIS-NRO/37/07/2014
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Facts / Headnote
Interim directions issued restraining Dhanolty Developers Ltd. and its promoters/directors from collecting fresh funds, launching new schemes, disposing of assets, or diverting funds; noticees directed to reply within 15 days
Provisions invoked
- s. 11B
- s. 11A
- s. 12
- s. 11
Regulations
- Reg. 65
- Reg. 3
- Reg. 4(2)
Parties
- Dhanolty Developers Ltd.
- Mr. Sanjay Walia
- Mr. Siddharth Walia
- Ms. Anita Malik
- Ms. Raksha Kumari
- Mr. Shiv Pratap Singh
- Ms. Shefali Walia
- Mr. Pankaj Bakshi
Holding
The schemes of 'Sale and rearing of Bee Colony' and 'Sale/purchase and development of plot/land' offered by Dhanolty Developers prima facie constitute a 'collective investment scheme' under Section 11AA of the SEBI Act, and Dhanolty Developers and its promoters/directors are illegally mobilizing funds from the public without registration. Interim directions were issued restraining further fund mobilization and asset disposal pending full inquiry.
Full text
Page 2 of 17 h. Memorandum and Articles of Association (MoA and AoA), i. Annual Returns, Balance Sheets, Profit and Loss Accounts etc. since its incorporation, as filed with the concerned Registrar of Companies (RoC), j. Details of past and present promoters/directors/Key management personnel of Dhanolty Developers.
Page 3 of 17 4.1 As, Dhanolty Developers failed to submit some vital information including the details of the amounts mobilized, details of the investors etc., SEBI issued another reminder, vide letter dated June 28, 2013 indicating non receipt of complete information/documents as sought by SEBI in its earlier communications.
Page 4 of 17 projects of agriculture lands are running at Gangakheri, distt Vidisha M.P", Dhanolty Developers provided the details of state wise location of its rearing of bee colony, which are as under :
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Source: SecMarx — sebi:WTM/SR/CIS-NRO/37/07/2014. 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.