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SOURCE OF INFORMATION : SECURITIES AND EXCHANGE BOARD OF INDIA WEBSITE – PRESS RELEASES/ CHAIRMAN’S AND MEMBER’S ORDERS / AO ORDERS/ SAT ORDERS/ NEWSPAPER ADS
UPDATED TILL : 21-NOV-2024

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

COMPANIES: DIRECTED TO TAKE ALL NECESSARY STEPS TO RECOVER THE AMOUNTS DUE TO COMPANY, WHICH WERE EXTENDED, EITHER DIRECTLY OR INDIRECTLY ALONG WITH DUE INTEREST AND TAKE NECESSARY ACTION, INCLUDING LEGAL ACTIONS, TO SAFEGUARD OF INVESTORS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1 
History of entity/person CG POWER & INDUSTRIAL SOLUTIONS LTD.

(PAN:AAACC3840K)  
  INDULGED IN MIS-STATEMENT OF ACCOUNTS AND DIVERSION OF FUNDS FROM LISTED COMPANY AND/OR ITS SUBSIDIARIES/ASSOCIATES VIOLATING SECTIONS 12A (A) TO (C) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(B) TO 3(D) AND 4(2)(F) & (R) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF CG POWER & INDUSTRIAL SOLUTIONS LTD.  DIRECTED TO TAKE ALL NECESSARY STEPS TO RECOVER THE AMOUNTS DUE TO COMPANY, WHICH WERE EXTENDED, EITHER DIRECTLY OR INDIRECTLY ALONG WITH DUE INTEREST AND TAKE NECESSARY ACTION, INCLUDING LEGAL ACTIONS, TO SAFEGUARD OF INVESTORS

DIRECTED BSE TO APPOINT INDEPENDENT AUDITOR/AUDIT FIRM TO CONDUCT DETAILED FORENSIC AUDIT OF BOOKS OF ACCOUNTS OF CG POWER & INDUSTRIAL SOLUTIONS LTD.FOR F.Y.2015-16 ONWARDS TILL DATE

17-SEP-2019 		SAT: SAT VIDE ITS ORDER DATED 18/02/2020 ALLOWED THE APPLICATION AND DIRECTED SEBI TO PASS CONFIRMATORY ORDER ON OR BEFORE 10/03/2010

SEBI VIDE ITS ORDER DATED 11/03/2020 DIRECTED TO TAKE ALL NECESSARY STEPS TO RECOVER AMOUNTS DUE TO COMPANY, WHICH WERE EXTENDED, EITHER DIRECTLY OR INDIRECTLY, TO NOTICEES/ENTITIES ALONG WITH DUE INTEREST EXPEDITIOUSLY AND TAKE NECESSARY ACTION, INCLUDING LEGAL ACTIONS, TO SAFEGUARD THE INTEREST OF INVESTORS OF COMPANY

SAT: SAT VIDE ITS ORDER DATED 06/04/2021 DISMISSED THE APPEAL AND DIRECTED TO DISCONTINUE RESTRAIN ORDER DATED 17/09/2019

SAT: SAT VIDE ITS ORDER DATED 10/05/2021 ALLOWED THE APPLICATIONS AND DIRECTED SEBI TO ISSUE SCN ON OR BEFORE 25/05/2021

SEBI VIDE ITS ORDER DATED 23/02/2022 ALLOWED THE EXPENSES WITHOUT PREJUDICE TO THE DIRECTION TO THE APPLICANT TO RETAIN FUND/OTHER ASSETS, AS GIVEN IN EX-PARTE ORDER DATED 17/09/2019

SEBI VIDE ITS ORDER DATED 04/10/2022 DIRECTED CONTINUE TO TAKE ALL NECESSARY STEPS TO RECOVER THE AMOUNTS DUE TO COMPANY AS DIRECTED IN INTERIM ORDER DATED 17/09/2019 AND CONFIRMATORY ORDER DATED 11/03/2020

SAT: SAT VIDE ITS ORDER DATED 30/11/2022 DIRECTED RESPONDENT TO FILE REPLY WITHIN THREE WEEKS FROM DATE OF THIS ORDER AND REJOINDER TO BE FILED THREE WEEKS THEREAFTER

SAT: SAT VIDE ITS ORDER DATED 23/01/2023 ALLOWED APPELLANTS THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 27/02/2023 CONDONED THE DELAY IN FILING OF REJOINDER REPLY BY RESPONDENT. EFFECT AND OPERATION OF IMPUGNED ORDER TO REMAIN STAYED AND APPELLANT TO DEPOSITS 50% OF PENALTY AMOUNT WITHIN THREE WEEKS FROM DATE OF THIS ORDER. IF AMOUNT DEPOSITED, BALANCE AMOUNT NOT TO BE RECOVERED DURING PENDENCY OF THE APPEAL
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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