Adjudication Order in the matter of M/s. Kalpbut Real Estate Ltd

Last updated: 28 October 2020

Court :
SEBI

Brief :
Securities and Exchange Board of India (SEBI), vide an ex – parte interim order dated December 10, 2014, in the matter of Kalpbut Real Estate Limited (hereinafter referred to as KREL or the company) issued certain directions in respect of Kalpbut Real Estate Limited (Noticee no. 1) and its Directors viz.,

Citation :
[ADJUDICATION ORDER: EAD-9/VKV/GSS/2020-21/ 9420-9430 ]

BEFORE THE ADJUDICATING OFFICER
SECURITIES AND EXCHANGE BOARD OF INDIA
[ADJUDICATION ORDER: EAD-9/VKV/GSS/2020-21/ 9420-9430 ]

UNDER SECTION 15-I OF SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 READ WITH RULE 5 OF SEBI (PROCEDURE FOR HOLDING INQUIRY AND IMPOSING PENALTIES) RULES, 1995.

In respect of:-

BACKGROUND OF THE CASE

1. Securities and Exchange Board of India (SEBI), vide an ex – parte interim order dated December 10, 2014, in the matter of Kalpbut Real Estate Limited (hereinafter referred to as KREL or the company) issued certain directions in respect of Kalpbut Real Estate Limited (Noticee no. 1) and its Directors viz., Mr. Bhanu Pratap Singh (Noticee no. 2) , Mr. Krishan Pal Singh (Noticee no. 3), Mrs. Guddi Devi (Noticee no. 4), Mr. Rajendra Singh Thakur (Noticee no. 5), Mr. Parvesh Kumar Singh (Noticee no. 6), Mr. Natthu Singh (Noticee no. 7), Mr. Raksha Pal Singh (Noticee no. 8), Mr. Devendra Pal Singh (Noticee no. 9), Mrs. Rajeshwari Sengar (Noticee no. 10), Mr. Pooran Prakash (Noticee no. 11) hereinafter, all the Noticees are collectively referred to as ‘the Noticees’. By the said order the Noticees were inter alia directed-

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