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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 FURNISH ALL INFORMATION/DOCUMENTS TO FORENSIC AUDITOR/SEBI

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1 
History of entity/person PRABHAT DAIRY LTD.

(CIN:U15203PN1998PLC013068)  
History of entity/person SARANGDHAR RAMCHANDRA NIRMAL

(PAN:AAJPN5198B)
History of entity/person VIVEK SARANGDHAR NIRMAL

(PAN:ACGPN8857L)
  		DEFAULTED IN MAINTENANCE OF BOOKS OF ACCOUNTS

MISREPRESENTED FINANCIALS AND/OR BUSINESS OPERATIONS

DIVERSION/SIPHONING OF FUNDS BY PROMOTERS/DIRECTORS/KEY MANAGERIAL PERSONS  		DIRECTED TO FURNISH ALL INFORMATION/DOCUMENTS TO FORENSIC AUDITOR/SEBI

20-OCT-2020
2 
History of entity/person PRABHAT DAIRY LTD.

(CIN:U15203PN1998PLC013068)  
  DEFAULTED IN MAINTENANCE OF BOOKS OF ACCOUNTS

MISREPRESENTED FINANCIALS AND/OR BUSINESS OPERATIONS

DIVERSION/SIPHONING OF FUNDS BY PROMOTERS/DIRECTORS/KEY MANAGERIAL PERSONS  		DIRECTED TO DEPOSIT RS.1292.46 CRORES IN INTEREST BEARING SPECIAL ESCROW ACCOUNT IN NATIONALISED BANK

DIRECTED AUDIT COMMITTEE OF THE COMPANY TO DIRECTLY MONITOR THE PROCESS OF CREADTION OF ESCROW ACCOIUNT ITS FUNDING

DIRECTED NOT TO USE THE FUNDS FOR ANY OTHER LINES OF BUSINESS (INCLUDING FOR DEPLOYMENT TOWARDS ITS RESIDUAL BUSINESS I.E.ANIMAL NUTRITION AND CATTLE FEED BUSINESS)

DIRECTED TO FURNISH WEEKLY STATEMENT OF DEBITS/CREDITS/BALANCE IN SPECIAL ESCROW ACCOUNT COMMENCING FROM 30/10/2020 TILL COMPLETION OF FORENSIC AUDIT

DIRECTED TO FURNISH ALL INFORMATION/DOCUMENTS TO FORENSIC AUDITOR/SEBI

20-OCT-2020 		SAT: SAT VIDE ITS ORDER DATED 09/11/2020 QUASHED IMPUGNED ORDER DATED 20/10/2020 AND DIRECTED APPELLANT TO A) DEPOSIT A SUM OF RS.500 CRORES IN A SEPARATE ESCROW ACCOUNT WITHIN 10 DAYS FROM DATE OF THIS ORDER B) DEPOSITED AMOUNT NOT BE UTILIZED BY TILL SUBMISSION OF FORENSIC REPORT AND TAKEN BY RESPONDENT ON DISTRIBUTION OF AMOUNT TO SHAREHOLDERS AND/OR THE DELISTING APPLICATION AND C) PROVIDE ALL THE NECESSARY INFORMATION AND DOCUMENTS RELATING TO THE SALE ETC..NO COSTS

SAT: SAT VIDE ITS ORDER DATED 09/02/2021 DISMISSED THE APPEAL

SAT: SAT VIDE ITS ORDER DATED 22/05/2024 PARTLY ALLOWED THE APPEAL. DIRECTED RESPONDENT TO PROVIDE COPIES OF ALL SHOW CAUSE NOTICES ISSUED TO APPELLANT WITHIN SEVEN DAYS FROM DATE OF THIS ORDER
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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