sebi:WTM/SR/WRO/ILO/125/06/2015
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Facts / Headnote
OAIIL and its past/present directors restrained from mobilizing fresh funds, issuing prospectus/offer documents, accessing securities market and disposing/alienating assets; directed to provide asset inventory and information; debenture trustee prohibited from continuing/taking new assignment; all called to show cause why refund with interest and further prohibitions should not be imposed.
Provisions invoked
- s. 11
- s. 12(1)
- s. 55A
- s. 22
- s. 73
- s. 4A
- s. 30
- s. 67(3)
- s. 67
- s. 117B
- s. 56
- s. 67(1)
- s. 67(2)
- s. 73(1)
- s. 2(36)
- s. 60
- s. 73(2)
- s. 56(1)
- s. 117C
- s. 56(3)
Regulations
- Reg. 7
- Reg. 6
- Reg. 16
- Reg. 9
- Reg. 17
- Reg. 12
- Reg. 8
- Reg. 15
- Reg. 14
- Reg. 4(4)
- Reg. 4(2)(a)
- Reg. 19
- Reg. 26
- Reg. 4(2)(b)
- Reg. 4(2)(d)
- Reg. 4(2)(c)
- Reg. 5(2)(b)
Holding
OAIIL's Offer of NCRSDs is prima facie a public issue in violation of the Companies Act, 1956 and Debt Securities Regulations, warranting interim cease-and-desist, market restraint, asset-freeze and disclosure directions against OAIIL, its past/present directors and its unregistered debenture trustee, with show cause for refund with interest.
Full text
Page 2 of 17 d. Copies of application forms that were required to be submitted by the investors/applicants to participate in schemes of the company; e. Sample copies of the agreement letter/contract required to be entered into by investors/applicants; f. Details of the scheme-wise amount mobilized by company till date along with the number of investors under the schemes; g. Certified copies of audited financial statements for the FY 2009-10, 2010-11 and 2011-12; h. Copies of Income Tax Returns filed by the company for the last three years; i. Details of any other similar scheme(s), if any, floated by the company or its group/associate companies.
Page 3 of 17 information to SEBI. However, SEBI has not received any reply from any of them till date. Letter to the company was once again returned undelivered by postal authorities.
Page 4 of 17 iii. Ms. Sharmila Das, Mr. Susanta Das, Mr. Bholanath Maji, Mr. Rajib Mondal, Mr. Manabendra Chakraborty, Mr. Tapan Kumar Polley, Mr. Bappa Pal, Mr. Bapan Ruidas and Mr. Durga Charan Mudi who were earlier directors of the company, have since resigned.
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Source: SecMarx — sebi:WTM/SR/WRO/ILO/125/06/2015. 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.