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MBK Business Development (India) Ltd. v/s Securities & Exchange Board of India SEBI Bhavan & Another


Company & Directors' Information:- J. H. BUSINESS (INDIA) LIMITED [Amalgamated] CIN = U24293DL1999PLC099782

Company & Directors' Information:- SECURITIES DEVELOPMENT INDIA LTD [Active] CIN = L45209WB1984PLC038094

Company & Directors' Information:- G B BUSINESS LIMITED [Active] CIN = U51109WB1983PLC036744

Company & Directors' Information:- R P BUSINESS PRIVATE LIMITED [Active] CIN = U74210AS2000PTC006302

Company & Directors' Information:- S N M BUSINESS PRIVATE LIMITED [Active] CIN = U51109WB1997PTC085308

Company & Directors' Information:- P R S BUSINESS PVT LTD [Active] CIN = U63090WB1992PTC056995

Company & Directors' Information:- M L B BUSINESS PRIVATE LIMITED [Active] CIN = U51109WB2000PTC091878

Company & Directors' Information:- J F C BUSINESS LTD [Active] CIN = U17125WB1990PLC048495

Company & Directors' Information:- A TO Z BUSINESS (INDIA) PRIVATE LIMITED [Under Process of Striking Off] CIN = U51909TZ2008PTC014261

Company & Directors' Information:- S V BUSINESS PVT LTD [Active] CIN = U27310WB1984PTC038146

Company & Directors' Information:- R R BUSINESS PRIVATE LIMITED [Active] CIN = U74999WB2007PTC176588

Company & Directors' Information:- M R BUSINESS PRIVATE LIMITED [Active] CIN = U51109WB1994PTC064165

Company & Directors' Information:- BUSINESS EXCHANGE LTD [Active] CIN = U22121TN1983PLC010266

Company & Directors' Information:- J C BUSINESS PRIVATE LIMITED [Active] CIN = U55101AS2009PTC008974

Company & Directors' Information:- D & B BUSINESS PRIVATE LIMITED [Active] CIN = U51909PB2010PTC033901

Company & Directors' Information:- THE INDIA COMPANY PRIVATE LIMITED [Active] CIN = U74999TN1919PTC000911

Company & Directors' Information:- P N S BUSINESS PRIVATE LIMITED [Active] CIN = U74140WB2005PTC101643

Company & Directors' Information:- M S BUSINESS PRIVATE LIMITED [Active] CIN = U51909MH1997PTC111137

Company & Directors' Information:- J S B BUSINESS PVT LTD [Active] CIN = U27109WB1996PTC078319

Company & Directors' Information:- A V S BUSINESS PRIVATE LIMITED [Strike Off] CIN = U31908UP2010PTC040437

Company & Directors' Information:- A C BUSINESS PRIVATE LIMITED [Strike Off] CIN = U45208MH2009PTC197088

Company & Directors' Information:- V K BUSINESS PVT LTD [Active] CIN = U21012WB1996PTC079121

Company & Directors' Information:- INDIA CORPORATION PRIVATE LIMITED [Active] CIN = U65990MH1941PTC003461

Company & Directors' Information:- MBK BUSINESS DEVELOPMENT INDIA LIMITED [Active] CIN = U52390WB2009PLC138103

Company & Directors' Information:- S P A BUSINESS PVT LTD [Strike Off] CIN = U29296WB1990PTC050043

Company & Directors' Information:- A D BUSINESS PRIVATE LIMITED [Active] CIN = U74900MH2008PTC178245

Company & Directors' Information:- A V R BUSINESS PRIVATE LIMITED [Active] CIN = U74992UP2008PTC034629

Company & Directors' Information:- C K BUSINESS PRIVATE LIMITED [Under Process of Striking Off] CIN = U51399DL2003PTC118289

Company & Directors' Information:- C AND D BUSINESS INDIA PRIVATE LIMITED [Strike Off] CIN = U52300KA2010PTC053211

Company & Directors' Information:- BUSINESS CORPN PRIVATE LIMITED [Strike Off] CIN = U15429UP1945PTC001335

Company & Directors' Information:- M M BUSINESS PVT LTD [Strike Off] CIN = U51909WB2005PTC106884

Company & Directors' Information:- L K BUSINESS PVT LTD [Active] CIN = U45202WB1985PTC038604

Company & Directors' Information:- C L BUSINESS PRIVATE LIMITED [Active] CIN = U93000WB2014PTC202032

Company & Directors' Information:- A. P. V. BUSINESS PRIVATE LIMITED [Strike Off] CIN = U14299RJ2017PTC058759

Company & Directors' Information:- J V B BUSINESS PRIVATE LIMITED [Active] CIN = U74999MH2016PTC282145

Company & Directors' Information:- U & C BUSINESS CORPORATION PRIVATE LIMITED [Strike Off] CIN = U51909TG2014PTC095129

Company & Directors' Information:- A R M G BUSINESS PRIVATE LIMITED [Strike Off] CIN = U51909UP2013PTC055405

Company & Directors' Information:- U K BUSINESS PRIVATE LIMITED [Active] CIN = U74999UP2016PTC086597

Company & Directors' Information:- A 2 J BUSINESS PRIVATE LIMITED [Active] CIN = U51909DL2014PTC269045

    Misc. Application No. 195 of 2017 & Appeal No. 145 of 2017

    Decided On, 06 October 2017

    At, SEBI Securities Exchange Board of India Securities Appellate Tribunal

    By, THE HONOURABLE MR. JUSTICE J.P. DEVADHAR
    By, PRESIDING OFFICER & THE HONOURABLE MR. JOG SINGH

    For the Appellant: Triptimoy Talukdar, Advocate. For the Respondents: Sonam Shetia, Advocate with Sochit Kumar, Advocate i/b Juris Corp.



Judgment Text

J.P. Devadhar, Presiding Officer (Oral)

Misc. Application No. 195 of 2017

1. By this misc. application appellant seeks condonation of 454 days delay in filing this appeal. For the reasons stated in the application, delay is condoned. Misc. Application is disposed of accordingly.

Appeal No. 145 of 2017

1. This appeal is filed to challenge the order passed by the Whole Time Member (‘WTM’ for short) of Securities and Exchange Board of India (‘SEBI’ for short) on February 4, 2016. By the said order the appellant and its directors were inter alia directed to forthwith refund the amounts collected through issuance of Secured Redeemable Debentures (for short ‘SRDs’) with interest.

2. After the matter was argued for some time, counsel for the appellant submits that since the appellant is willing to refund the amounts to the investors, appellant may be permitted to approach SEBI seeking time to refund the amounts to the investors in a time bound manner.

3. In these circumstances since the appellant is ready and willing to comply with the order passed by SEBI, we dispose of the appeal by directing the appellant to make a representation to SEBI within four weeks from today setting out details of the refunds, if any, already made to the investors and also the mode and the manner in which the entire amount due to the investors would be refunded. If appellant makes a representation within four weeks from today, SEBI shall dispose of the said representation as expeditiously as possible and in any event within a period of eight weeks from the date of receiving the representation

4. Appellant is directed to disclose list of the assets owned by it to SEBI within a period of two weeks from today and also g

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ive an undertaking to SEBI that the appellant shall not sell the said assets without the prior approval of SEBI. 5. Appeal is disposed of in the aforesaid terms with no order as to costs.
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