Mr. Thiruvidaimarudur Krishna Prabhakar Naig

SAT-appeal

• Alleged non-disclosure of important information in IPO and diversion of IPO proceeds for purposes other than stated in offer document.
  Appellant 4 and 5 may sell demat shares; proceeds in FD with nationalized bank · Withdrawal from FD only with prior permission of SEBI
  Appeal: Appeal No. 4 of 2013 disposed on 24.01.2013 with partial interim relief and time-bound directions to SEBI
• Failure to disclose by advertisement developments between RHP registration and allotment in Sept/Oct 2011 public issue violating Reg 60(4) ICDR and Sec 60B Companies Act, plus other violations in issue and subsequent trading.
  Appeals No. 17 and 18 of 2012 disposed of without interference, treated as reply to show cause notice · Board to consider reply expeditiously and pass clarification order on paras 14.4, 14.5, 14.7
  Appeal: Appeal Nos. 17 and 18 of 2012 disposed of on 20.01.2012; treated as SCN reply, Board to decide expeditiously
• Failure to disclose by advertisement developments between RHP registration and allotment and utilisation/diversion of IPO proceeds for objects other than RHP objects.
  Declined to intervene on merits as matter still under investigation involving many parties · Noted WTM clarification of para 14.5 permitting existing underwriting obligations; retained escrow direction in para 14.7 pending inquiry