Adjudication order against Aqua Logistics Limited in the matter of its issue of GDR

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Last updated: 01 October 2020
Quick Summary
The Securities and Exchange Board of India (SEBI) investigated Aqua Logistics Limited for alleged irregularities during its Global Depository Receipts (GDR) issue between January and February 2011. The company issued GDRs worth approximately Rs. 284.32 Crore, subscribed by a single entity, Vintage FZE. Investigations revealed that Aqua Logistics pledged the GDR proceeds as collateral for a loan obtained by Vintage FZE from EURAM Bank to subscribe to these GDRs.

Court :
SEBI

Brief :
ORDER UNDER SECTION 15-I OF THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 READ WITH RULE 5 OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (PROCEDURE FOR HOLDING INQUIRY AND IMPOSING PENALTIES) RULES, 1995 AND SECTION 23I OF THE SECURITIES CONTRACTS (REGULATION) ACT, 1956 READ WITH RULE 5 OF THE SECURITIES CONTRACTS (REGULATION) RULES, 1957

Citation :
ADJUDICATION ORDER NO: Order/GR/KG/2020-21/9267

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1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

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