Apr 06, 2015
PR No.:
103/2015
Shri Prashant Saran, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an order dated March 27, 2015 under Sections 11(1), 11(4), 11A and 11B of the SEBI Act read with Regulation 107 of the ICDR Regulations issuing the following directions in the matter of Shivalik Cotex Limited:
The Company, namely, Shivalik Cotex Limited and its promoters/ directors including Mr. Subhash Chand Gupta, Mr. Summit Gupta, Ms. Sakshi Gupta, Ms. Sunita Gupta, Mr. Saurabh Gupta, Mr. Jawahar Lal Goyal, Mr. Om Prakash Gupta, Mr. Yatender Kumar, Mr. Navin Gupta and Ms. Noorie Goel:
a. Are restrained from mobilizing funds through the issue of equity shares or through any other form of securities, to the public and/ or invite subscription, in any manner whatsoever, either directly or indirectly till further directions.
b. Are prohibited from issuing prospectus or any offer document or issue advertisement for soliciting money from the public for the issue of securities, in any manner whatsoever, either directly or indirectly, till further orders.
c. Shall not dispose off any of the properties or alienate the assets of the Company or dispose off any of their properties or alienate their assets.
d. Shall not divert any funds raised from public at large through the issuance of the impugned equity shares, kept in its bank accounts and/ or in the custody of the Company without prior permission of SEBI until further orders.
e. Are restrained from accessing the securities market and are further prohibited from buying, selling or otherwise dealing in securities in any manner whatsoever, either directly or indirectly, till further directions.
f. Shall co-operate with SEBI and shall furnish all the documents.
g. Are also directed to provide a full inventory of all their assets and properties and details of all their bank accounts, demat accounts and holdings of shares/ securities, if held in physical form.
The full text of the order is available on the website: www.sebi.gov.in