Tuesday, 23 February 2016

Sebi Bans Win Realcon From Capital Markets

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Sebi barred Win Realcon and its directors from the capital markets for raising funds from investors, without complying with public issue norms. 

The Securities and Exchange Board of India (Sebi) found that Win Realcon had raised Rs 1.18 crore through issuance of Redeemable Preference Shares (RPS) to more than 700 investors between 2011-12 and 2012-13.

 Since the shares were issued by the firm to more than 50 people each, it qualified as a public issue that requires compulsory listing on the recognised stock exchange. It was also required to file a prospectus, among other things, which it failed to do.

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