Motilal Oswal IPO Not Approved From SEBI-RTI ..... Rs 260 Cr SCAM FRAUD BY MOTILAL OSWAL GROUP IN 2007..SEBI IS SILENT ON THIS SCAM
Mumbai : Motilal Oswal Financial service Limited Launched IPO on 11 Sept 2007 and listed at NSE and BSE exchanges. The NSE and BSE listed MOFS Limited IPO without SEBI approval . SEBI said that copy NOC is not information as per SEBI law as per section 2f of RTI act. As per company act and SEBI law SEBI permission is mandatory for IPO. Complainant filed the complaint before the SEBI scores website . The MOFS replied that they filed Draft with SEBI and SEBI given observation letters with objections to comply. The MOFS limited has submitted the reply to SEBI but SEBI officer has not given any written certificate that all the objections has been removed by MOFS . So in writing SEBI has not given any NOC for IPO. So without SEBI compliance certificate NSE and BSE listed Rs 246 cr IPO . MOFS received this interest free money from investors without SEBI Permission which is corruption. SEBI officers put objections on Sahara IPO because Sahara may have denied to bribe for IPO ...