Order in the matter of Resurgere Mines and Minerals India Ltd.

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Last updated: 30 September 2020
Quick Summary
The Securities and Exchange Board of India (SEBI) investigated Resurgere Mines and Minerals India Ltd. following its 2008 Initial Public Offering (IPO). The investigation revealed that funds raised were not used as stated in the prospectus and were allegedly siphoned off. Additionally, the company failed to disclose crucial information, including inter-corporate deposits taken during the IPO period. Consequently, SEBI issued a Show Cause Notice to the company and its directors for violating various SEBI regulations.

Court :
SEVI

Brief :
Under Sections 11(1), 11(4), 11A and 11B (1) of the Securities and Exchange Board of India Act, 1992

Citation :
WTM/SM/IVD/ID3/9174/2020-21

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1999
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3499
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4999
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