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TMI Blog2017 (2) TMI 414X X X X Extracts X X X X X X X X Extracts X X X X ..... , forming a prima-facie opinion that the respondent was guilty of professional misconduct. Proceedings were initiated by the Disciplinary Committee. The respondent was served. His reply was taken on record. He was heard on various dates. The report of the Committee dated November 02, 2009 is a reflection of the order passed by SEBI. In the interregnum CBI had stepped in. Record of the company had been seized by CBI. No assistance from the respondent who has chosen not to appear today and would therefore highlight that in the certificate dated November 13, 1999 the respondent has consciously omitted to add the column of the date when the cheques were encashed for the reason he knew that no cheque had been encashed by the date he gave the certificate. We would also highlight that before the Disciplinary Committee that the respondent relied upon Form 2 which had been submitted by the Company to the Registrar of Companies, and suffice it to record that said form could not form the basis on which the respondent issued the certificates because the date of issue of said form under signatures of the Company Secretary of the Company, is much after the date when the three certificates wer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Company, its Directors and other Officers, Other Agencies, independent verification of the statements concerning the objects of the Preferential Allotment, Price justification and the contents of other Documents and papers furnished by the Company. We confirm that: (a) The Preferential Allotment of Shares is in conformity with the documents/materials and papers relevant to the Preferential Allotment. (b) All legal requirements connected with said Allotment as also the guidelines and instructions etc. issued by SEBI, the Government and any other competent authority in this behalf have been duly complied with 4. The third certificate dated November 13, 1999 issued by the respondent reads as under:- TO WHOMSOEVER IT MAY CONCERN This is to certify the detail of receipt of Share Application Money aggrebgating to ₹ 8,52,50,000/- realised credited to the account of M/s Padmini Polymers Limited is given as under:- S.No. NAME OF ALLOTIES CHQ NO. CHQ. DT DRAWN ON AMOUNT 1. Contessa Comme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 00.00 14. Hennonite Consultants P Ltd. 42454 02.06.99 Vijaya Bank 22,50,000.00 15. Savara Tic-up Pvt. Ltd 739153 03.06.99 The Federal Bank Ltd. 22,50,000.00 16. HT Ferro P Ltd. 596160 03.06.99 Bank of Baroda 22,50,000.00 17. Pramod Kumar Kishorepuna 915595 25.05.9 State Bank of .. 22,50,000.00 18. Prakash Kumar Damani 92047 01.05.99 Vijaya Bank 22,50,000.00 19. VB IMpex P. Ltd. 651401 21.05.99 Vijaya Bank 22,50,000.00 20. S. Benwal 41311 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 900000 2.5 7. -do- Pramod Kumar Kishorepuria 900000 2.5 8. -do- Alok Khetan 900000 2.5 9. -do- Savera Tie-up P Ltd 900000 2.5 10. -do- Royal Bengal Exports Pvt. Ltd 900000 2.5 11. -do- S. Benwal 900000 2.5 12. -do- Prakash Kumar Damani (HUF) 900000 2.5 13. -do- Prakash Kumar Damani 900000 2.5 14. -do- Carna Enterprises P Ltd 900000 2.5 15. -do- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9,00,000 90 lacs 17.5.99 6.1.00 All Seasons Hotels 28.7.99 5.1.00 Jeevan Sagar 9,00,000 22.50 lacs 7.6.99 19.1.00 RN Dyachem 25.8.99 7.1.00 Bhagwan Das Sagarmal 9,00,000 22.50 lacs 28.5.99 14.1.00 Shivesh Computers 25.7.99 12.1.00 Raj Kumar Kishorepuria 9,00,000 22.50 lacs 1.6.99 14.1.00 Cross Country Exports 15.7.99 6.1.00 Pramod Kumar Kishorepuria 9,00,000 22.50 lacs 22.5.99 18.1.00 Cross Country Exports 15.9.00 7.1.00 Alok Khetan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9,00,000 22.50 lacs 3.8.99 27.12.99 Miscellaneous entities Zinga Chemicals P Ltd 9,00,000 22.50 lacs 2.8.99 27.12.99 Triumph Internation 3,00,000 18.2.00 8.3.00 Hermonite Consultants P Ltd 9,00,000 22.50 lacs 2.8.99 27.12.99 Panther Fincap 7,00,000 12.10.99 24.12.99 HT Ferro P Ltd 9,00,000 22.50 lacs 3.8.99 28.12.99 Triumph International 3,00,000 18.2.00 7.3.00 Cama Enterprises P Ltd 9,00,000 22.50 lacs 1.8.99 27.12.99 Panther Fincap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ney by June 30, 1999 or by November 30, 1999, as stated and certified by Shri Kailash Chandra Agrawal in his certificates dated June 30, 1999 and November 30,1999. 4.9 I note from the bank statements of Padmini (maintained with Vijaya Bank Ansari Road Branch, New Delhi) that the cheques (towards the application/allotment money) of Cama Enterprises (cheques no. 43565) Hermonite Consultants Pvt Ltd (cheques no. 42454), Zinga Chemicals Pvt Ltd. (22985), Cherry Marketing Pvt Ltd. (Cheques no. 43226) Hermonite Surgicals Pvt. Ltd (cheques no. 19878) and HT Ferro Pvt. Ltd. (cheques no. 596160) were cleared and credited to the account of Padmini only on December 27,1999 except the cheques of H T Ferro Pvt. Ltd. which was credited on December4 28,1999. Similarly, from the bank statement ofr Padmini maintained with the State Bank of Hyderabad. Kolkata it is observed that the payments from the Kolkata based entities were received in the month of January 2000. Therefore, the certificate of Shri Kailash Chandra Agrawal that the aforesaid cheques were realized and credited into the account of Padmini before November 30,1999 is not only false but also misleading. I observe that Shri Kailash ..... X X X X Extracts X X X X X X X X Extracts X X X X
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