Appeal No. 197 of 2011. Case: Asahi Infrastructure & Projects Ltd. Vs Securities and Exchange Board of India. Securities and Exchange Board of India

Case NumberAppeal No. 197 of 2011
CounselFor Appellant: Mr. Ravi Ramaiya, Chartered Accountant and For Respondent: Mr. Mobin Shaikh, Advocate
JudgesP. K. Malhotra and S.S.N. Moorthy, Members
IssueSecurities and Exchange Board of India Act
Judgement DateDecember 15, 2011
CourtSecurities and Exchange Board of India

Order:

P. K. Malhotra, (At Mumbai)

  1. This appeal is directed against an ex-parte ad-interim order dated September 21, 2011 passed by the whole time member of Securities and Exchange Board of India (for short the Board) whereby some directions have been issued, among others, to the appellant. The appellant has been directed not to issue equity shares or other instruments convertible into equity shares or alter its capital structure in any manner till further directions in this regard. The ad-interim ex-parte order has been treated as a show-cause notice and the appellant has been called upon to file its reply. The appellant has already filed a reply to the said show-cause notice. Since the matter is under consideration of the Board, we do not think it appropriate to examine the merits of the issues sought to be raised by the appellant.

  2. Learned counsel for the appellant states that it (the appellant) has issued...

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