sebi:WTM/SR/ERO/45/08/2014
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Facts / Headnote
Prima facie finding that GTPL's Offer of NCDs was a public issue in violation of Companies Act and Debt Securities Regulations; interim directions restraining GTPL and directors from mobilizing funds, issuing prospectus/offer documents, accessing securities market, disposing assets/diverting funds, requiring asset inventory, and prohibiting GreenTouch Projects Debenture Trust from acting as debenture trustee; corrigendum corrects Shri Sujoy Saha to Shri Sujoy Sinha with same DIN.
Provisions invoked
- s. 11
- s. 12(1)
- s. 55A
- s. 73
- s. 4A
- s. 30
- s. 67(3)
- s. 67
- s. 117B
- 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. 132
Regulations
- Reg. 7
- Reg. 6
- Reg. 9
- Reg. 17
- Reg. 12
- Reg. 8
- Reg. 15
- Reg. 14
- Reg. 4(4)
- Reg. 4(2)(a)
- Reg. 19
- Reg. 26
- Reg. 16(1)
- Reg. 4(2)(b)
- Reg. 4(2)(d)
- Reg. 4(2)(c)
- Reg. 5(2)(b)
Parties
- GreenTouch Projects Limited
- Shri Shyam Sundar Dey (DIN: 02787439)
- Shri Snehasish Sarkar (DIN: 03085611)
- Shri Sujoy Sinha (DIN: 05316019) [corrected from Shri Sujoy Saha]
- Shri Sumon Sarkar (DIN: 02767331)
- GreenTouch Projects Debenture Trust (represented by its Trustee, viz. Swagata Kumar Maiti)
Holding
GTPL's Offer of Secured Non-Convertible Redeemable Debentures to 20549 investors raising Rs.55.96 crores prima facie constituted a public issue in violation of the Companies Act, 1956 and Debt Securities Regulations, warranting interim restraints; the Order's reference to Shri Sujoy Saha (DIN: 05316019) is corrected to Shri Sujoy Sinha (DIN: 05316019).
Full text
BEFORE THE SECURITIES AND EXCHANGE BOARD OF INDIA, MUMBAI CORRIGENDUM TO THE ORDER No. WTM/SR/ERO/45/08/2014 DATED AUGUST 07, 2014.
Page 2 of 15 e. Number of Non-Convertible Debentures allotted and value of such allotment against each allottee's name. f. Details regarding subscription amount raised; g. Date of allotment of shares/debentures; h. Copies of the minutes of Board/Committee meeting in which the resolution has been passed for allotment; i. Date of dispatch of share/debenture certificates; j. Details of the total number of applicants for each of GTPL's scheme besides the list of final allottees; k. Copies of application forms, pamphlets, advertisements and other promotional material circulated for issuance of shares/debentures. l. Terms and conditions of the issue of shares/debentures. m. Copy of Form 2 and Form 10 filed with ROC. n. Details of debenture trustee.
Page 3 of 15 3. The material available on record i.e. correspondences exchanged between SEBI and GTPL alongwith the documents contained therein, information obtained from MCA21 Portal, have been perused. On an examination of the same, it is observed that –
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Source: SecMarx — sebi:WTM/SR/ERO/45/08/2014. 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.