https://www.taxtmi.com/caselaws?id=310440 SEBI Board issued an interim ex-parte order following investigation into financial mismanagement and diversion of approximately Rs. 2315.09 crores from subsidiary for promoters' benefit through fixed deposits. The Board directed two companies to recall all loans extended to 23 entities within three months with interest, while restricting asset disposal and fund diversion except for daily operations without SEBI permission. Two specific entities were barred from associating with the companies' affairs. Order issued under sections 11(1), 11(4)(d), 11B, and 19 of SEBI Act pending detailed investigation to protect shareholders' interests. en-us Thu, 14 Mar 2019 00:00:00 +0530 Thu, 26 Oct 2023 07:43:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310440 SEBI Board issued an interim ex-parte order following investigation into financial mismanagement and diversion of approximately Rs. 2315.09 crores from subsidiary for promoters' benefit through fixed deposits. The Board directed two companies to recall all loans extended to 23 entities within three months with interest, while restricting asset disposal and fund diversion except for daily operations without SEBI permission. Two specific entities were barred from associating with the companies' affairs. Order issued under sections 11(1), 11(4)(d), 11B, and 19 of SEBI Act pending detailed investigation to protect shareholders' interests. Case-Laws SEBI Thu, 14 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310440