Adjudication Order in the matter of Raghav Capital and Infrastructure Limited

Last updated: 05 November 2020

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Quick Summary

This adjudication order concerns Raghav Capital and Infrastructure Limited and its directors, Raj Kumar Raghav, Nirmala Raghav, and Ritu Verma. The Securities and Exchange Board of India (SEBI) initiated proceedings against them for alleged violations of the SEBI Act, 1992, specifically concerning provisions related to Collective Investment Schemes. A Show Cause Notice was issued, and the order details the process of inquiry and potential penalties.

Court :
SEBI

Brief :
Securities and Exchange Board of India (hereinafter referred to as "SEBI") initiated adjudication proceedings under Section 15D(a) of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as "SEBI Act"), the alleged violations of provisions of Section 12(1B) of the SEBI Act, 1992 and Regulation 3 of the SEBI (Collective Investment Schemes) Regulations, 1999 (‘CIS Regulations, 1999’) by i) Raghav Capital and Infrastructure Limited., (hereinafter referred to as ‘Noticee 1 / Company / RCIL’) , ii) Mr. Raj Kumar Raghav (hereinafter referred to as ‘Noticee 2’), iii) Ms. Nirmala Raghav (hereinafter referred to as ‘Noticee 3’) and (iv) Ms. Ritu Verma (hereinafter referred to as ‘Noticee 4’) in the matter of Raghav Capital and Infrastructure Limited. While Noticee 1 is the Company, Noticee 2 to Noticee 4 are the Directors of the Noticee 1.

Citation :
(ADJUDICATION ORDER NO: ORDER/GR/RR/2020-21/9536-9539)

Daily Limit Reached