Adjudication Order in respect of Shri Anurag Agarwal in the matter of Sterling Green Woods Ltd

Last updated: 21 October 2020

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Quick Summary

The Securities and Exchange Board of India (SEBI) has issued an adjudication order against Shri Anurag Agarwal, former Managing Director of Sterling Green Woods Ltd. During a specific investigation period in late 2009, Mr. Agarwal sold a significant portion of his shares in the company. SEBI found that he failed to make the required disclosures under the SAST Regulations, 1997, regarding these substantial sales to the company and stock exchanges.

Court :
SEBI

Brief :
Securities and Exchange Board of India (hereinafter referred to as “SEBI”) carried out an investigation in the scrip of Sterling Green Woods Ltd (hereinafter referred to as “Company / SGWL”) during the period from November 06, 2009 to December 02, 2009 (Investigation Period). It was observed that Shri Anurag Agarwal (hereinafter referred to as “Noticee”) who was Managing Director of SGWL was the major net seller in the scrip of SGWL during the Investigation Period. It was observed that the Noticee was holding 5,00,000 shares (11.79% of the total paid up capital of the company) of SGWL as on September 2009 quarter.

Citation :
[ADJUDICATION ORDER NO. Order/KS/AE/2020-21/9412]

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