Order in respect of Pushpendra Singh in the matter of Sai Prakash Properties Development Limited

Last updated: 12 November 2020

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Quick Summary

The Securities and Exchange Board of India (SEBI) initiated an investigation into Sai Prakash Properties Development Limited (SPPDL). During this investigation, Pushpendra Singh, a director of SPPDL, failed to comply with multiple summons issued by SEBI to provide crucial documents and information related to the company's affairs and fund mobilisation. Consequently, SEBI initiated adjudication proceedings against Mr. Singh for violating Section 11C(3) of the SEBI Act.

Court :
SEBI

Brief :
Securities and Exchange Board of India (hereinafter referred to as ‘SEBI’) started investigation into the affairs of Sai Prakash Properties Development Limited (hereinafter referred to as ‘SPPDL/ Company’). During the course of investigation, the Investigating Authority of SEBI (hereinafter referred to as ‘IA’) issued summons under Sections 11C(3) of the SEBI Act to various entities including Shri Pushpendra Singh Baghel (hereinafter referred to as the “Noticee/ by Name”) for production of documents.

Citation :
[ADJUDICATION ORDER NO. Order/BD/MG/2020-21/9554]

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