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SEBI rightly restrained appellant-Co from associated with any listed Co. as it repaid loan out of IPO money : SAT

January 10, 2020[2020] 113 36 (SAT - Mumbai)

COMPANY LAW: Where appellant-company paid its bridge loan out of IPO money and, moreover, it failed to disclose existence of security deposit in its prospectus to investors enabling them to take informed investment, a case of violation of ICDR Regulations was made out and, thus, appellant-company was to be restrained from associating themselves with any listed company for a period of three years

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