sebi:WTM/SR/SRO/31/02/2015
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Facts / Headnote
Interim directions issued restraining RTIL and its directors from mobilizing fresh funds, issuing prospectus, accessing securities market, disposing of assets, and diverting funds, pending further orders.
Provisions invoked
- s. 11
- s. 55A
- s. 22
- s. 73
- s. 4A
- s. 67(3)
- s. 67
- s. 56
- s. 67(1)
- s. 67(2)
- s. 73(1)
- s. 2(36)
- s. 60
- s. 73(2)
- s. 56(1)
- s. 56(3)
Parties
- Ravindra Traders India Limited (RTIL)
- Shri Srinivasan Kozhinjapara Ramasamy
- Shri Sivakumar Gangadharan
- Shri Rabindra Kumar Jena
Holding
RTIL prima facie violated Sections 56, 60 read with 2(36), and 73 of the Companies Act, 1956 by mobilizing funds from the public through the offer of Redeemable Preference Shares to 2,763 investors without complying with prospectus registration, listing, and disclosure requirements. Interim directions were issued restraining RTIL and its directors from further fund mobilization and from dealing in securities.
Full text
Page 2 of 11 xii. Certificate from Auditor certifying the exact business of the company and the modus operandi of the schemes;
Page 3 of 11 Koramangala Road, Adugodi, Landmark Near Kuppegowda Community Hall, Bangalore -560030. ii The directors of RTIL are Shri Srinivasan Kozhinjapara Ramasamy, Shri Sivakumar Gangadharan and Shri Rabindra Kumar Jena.
Page 4 of 11 SEBI (Civil Appeal no. 9813 of 2011) (Judgment dated August 31, 2012) (hereinafter referred to as the "Sahara Case"), had observed :
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Source: SecMarx — sebi:WTM/SR/SRO/31/02/2015. 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.