sebi:WTM/SR/ERO/117/12/2014
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Facts / Headnote
Interim directions issued restraining further fund mobilization and securities market access, requiring asset inventory, no disposal/diversion, and submission of information, till further orders
Provisions invoked
- s. 55A
- s. 22
- s. 73
- s. 4A
- s. 67(3)
- s. 67
- s. 56
- s. 73(2)
- s. 465
- s. 67(1)
- s. 67(2)
- s. 73(1)
- s. 2(36)
- s. 60
- s. 56(1)
- s. 56(3)
- s. 465(2)
- s. 73(3)
Parties
- JRPIL (CIN-U45400WB2009PLC140276; PAN-AACCJ2827P)
- Shri Swarup Dutta
- Shri Sumanta Gorai
- Shri Susanta Ghosh
- Shri Sukanta Dutta
- Shri Koushik Bej
- Shri Najib Seikh
- Shri Anjan Jana
- Shri Kanwal Prakash Singh
- Shri Gajendra Pal Singh
- Shri Sandip Dutta
- Shri Virendra Kumar
- Shri Niladri Chakraborty
Holding
SEBI prima facie held JRPIL's issue of Redeemable Preference Shares to 3558 persons raising Rs.11,42,63,000 during 2010-11 to 2012-13 was a deemed public issue in violation of Sections 56, 60, 67 read with Section 2(36) and 73 of the Companies Act, 1956, and issued interim restraints against JRPIL and its 12 directors.
Full text
Page 2 of 14 a. Copy of Prospectus/Red Herring Prospectus/Statement in lieu of Prospectus/Information Memorandum filed with RoC for issuance of shares/debentures; b. Date of opening and closing of the subscription list for the said shares/debentures; c. Details regarding the number of application forms circulated inviting subscription for shares/debentures; d. Details regarding the number of applications received; e. Details regarding the number of allottees and list of such allottees; f. Number of shares/debentures allotted and value of such allotment against each allottee's name. g. Details regarding subscription amount raised; h. Date of allotment of the shares/debentures ; i. Copies of the minutes of Board/Committee meeting in which the resolution has been passed for allotment; j. Date of dispatch of debenture/share certificates, etc.; k. Details of the total number of applicants for each of its scheme besides the list of final allottees; l. Copies of application forms, pamphlets, advertisements and other promotional material circulated for issuance of shares/debentures; m. Terms and conditions of the issue of shares/debentures; n. Whether the company has applied for listing of its securities with any of the stock exchanges; o. Copy of Form 2 and Form 10 filed with the RoC; p. Details of debenture trustee viz. name , address, board resolution authorizing their appointment, etc. vi. Other information in respect of schemes launched for raising funds by the company;
Page 3 of 14 f. Number of shares allotted and value of such allotment against each allottee's name. g. Details regarding subscription amount raised; h. Date of allotment of the securities issued; i. Copies of the minutes of Board/Committee meeting in which the resolution has been passed for
Page 4 of 14 APSPB6232N), Shri Najib Seikh (DIN-05241253;PAN-AYLPS8955R) and Shri Anjan Jana (DIN-05247414;PAN-AHRPJ8186A).
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Source: SecMarx — sebi:WTM/SR/ERO/117/12/2014. 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.