Ex-Parte Interim Order in the matter of Ashok Dilipkumar Jain and Others
What is this order about?
This order concerns an ex-parte interim order by SEBI against Ashok Dilipkumar Jain and others for alleged preferential allotment of warrants and mis-utilization of funds by Darjeeling Industries Limited (DIL).
Who it concerns
Ashok Dilipkumar Jain, Dilip Keshrimal Sanklecha, Viha Ashok Jain, Sonali Abhaykumar Parmar, Abhishek Prakash Jain, Kirti Ravi Kothari, Kalidas Vijay Magar, Pradeep Sutodiya, Joy Banerjee, Punyah Sachin Jain
What was found or directed
- Preferential allotment of 70,00,000 warrants to 10 entities at ₹16.80 per warrant
- Total amount received: ₹11,76,00,000
- 25% of amount paid at allotment, 75% at conversion
- Proceeds of preferential allotment found to be mis-utilized
- SEBI found prima facie violation of SEBI Act and PFUTP Regulations
- Interim order passed during pendency of examination
Points worth noting
- Total amount received from preferential allotment: ₹11.76 crores
- 75% of amount paid at conversion of warrants into equity shares
- Company DIL showed significant revenue increase after ADJ's appointment as director
- Promoter shareholding reduced from 8.29% to 3.22% due to preferential allotment
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | WTM/KV/ISD/ISD-SEC-2/32457/2026-27 |
| Status | closed (section: order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |
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Documents
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