sebi:WTMO/6/CFD/09/03
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Directions issued restraining BGCL and four directors from accessing the capital market for five years; no action against nominee and former directors.
Provisions invoked
- s. 11B
- s. 19
- s. 11(1)
- s. 21
Parties
- Bodh Gaya Ceramics Limited
- Shri Brajesh Kumar Sinha
- Dr. Gyan Dhar Singh
- Shri Harinandan Prasad Sinha
- Shri Harshad Nandlal Bhutta
Holding
SEBI directed Bodh Gaya Ceramics Limited and its directors Shri Brajeshkumar Sinha, Dr. Gyan Dhar Singh, Shri Harinandan Prasad Sinha and Shri Harshad Nandlal Bhutta to disassociate from capital market activities and not access the capital market for five years, and further directed that public companies in which these directors hold controlling or substantial interest shall not raise funds from the capital market for five years.
Full text
Ceramics Ltd (hereinafter referred to as “BGCL”) could not be traced at its Registered Office address during the physical verification conducted by MSE. In the meeting of the co-ordination and Monitoring Committee held on 25.2.2003, BGCL was identified as one of the vanishing companies in the Eastern Region. Further, in the meeting of the Calcutta Task Force held on 18.6.2003 it was decided to initiate prosecution and lodge First Information Report (FIR) against BCGL.
3. Shri Harinandan Prasad Sinha Director M/s. Bodh Gaya Ceramics Ltd. B/N Lane, Mithapur, Patna – 800 001 4. Shri Harshad Nandlal Bhutta Director M/s. Bodh Gaya Ceramics Ltd. Samudri – 17, Ashok Nagar Society, Mumbai 400 044
4.0 Show cause notice 4.1 In the meeting of the co-ordination and monitoring committee held on 25.2.2003, the name of BGCL was added as one of the vanishing companies in the Eastern Region. In view of the above, a show cause notice dated 12.5.2003 was issued by SEBI to BGCL calling upon them to explain why action, including specific directions under section 11B of the SEBI Act prohibiting BGCL from accessing the capital market for a period of five years should not be taken under the SEBI Act and the Securities Contracts (Regulation) Act, 1956,. Similar show cause notice dated 12.5.2003 were also issued to the directors. No reply was received from the promoters or the directors.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:WTMO/6/CFD/09/03. 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.