India RTI News

  Aarti industries Limited listed at BSE on 4th June 1992 without SEBI and govt of India Compliance which is mandatory under law . RTI was filed before Department of Economic affairs to get aarti industries  IPO details . It got transferred to SEBI by DOE under section 6(3) of RTI act 2005.As per RTI reply from SEBI , they do not have record  regarding  copy of NOC, observation letter, lender NOC of Aarti Industries IPO . As per rule of law prior to SEBI formation the permission from controller under Capital issue control act 1947 was mandatory . After SEBI formation the CIC act 1947 was repealed . The company launched IPO at BSE without the permission from regulator and BSE supported this fraud act. The issue highlighted when the complaint was registered against Aarti Surfactant Ltd (ASL)IPO approval . Aarti industries limited replied that the aarti surfactants ltd shares was floated under demerger of home and personal care business without SEBI approval . Aarti industries failed to s

  Mumbai : Larsen and Turbo Limited listed at BSE on 21/4/1965 . As per law they have to take permission from Capital issue controller. As per RTI information L&T has not done any compliance and listed at BSE without regulatory approval . As per smart odr Reply they have no record of govt NOC . By taking fund from public without permission and made multiple folds till date without Govt NOC. It is white collar fraud practice by this giant company. As per Section 15 HA Of SEBI act 1992 they have to pay penalty ie 3 times of profit for this fraud practice with Investors.