Markets

Bar on ex-officials in Dr Datsons Labs IPO case

PTI New Delhi | Updated on September 13, 2019 Published on September 13, 2019

Regulator SEBI on Friday barred ex-officials of Dr Datsons Labs from the securities markets for up to three years for not utilising the IPO proceeds as stated in the offer documents. SEBI has prohibited Kashi Vishwanathan, who was chairman of the company, and Kannan Vishwanatth, who was MD, for three years. Prabhat Goyal and Shashikant B Shinde, who were whole-time executive directors, have been restricted for one year, according to the regulator’s order.

SEBI conducted an investigation in the matter of the IPO by Datsons (formerly known as Aanjaneya Lifecare) in 2011 and pursuant investigation, found, “the company and its directors have not utilised the IPO proceeds for the objects stated in the RHP (offer document) and have utilised the IPO proceeds for other undisclosed purposes”.

Published on September 13, 2019
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.