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| Exchange Disseminated Time | Tijaria Polypipes Ltd has informed BSE that:
"We have received SEBI directions, by way of ad interim, ex-parte order dated December 28, 2011 pursuant to section 11(1), 11(4) and 11(B) and regulation 11 of SEBI (Prohibition of Fraudulent & Unfair Trade Practices relating to Securities Market) Regulations, 2003 in the matter of initial public offering of the Company. The order has raised certain issues on trading pattern on the day of listing and subsequent utilization of IPO proceeds. The order has, till further directions:
1) prohibited to the Company from raising any further capital from the securities market,
2) prohibited to the Company, all its directors and Company Secretary from buying, selling or dealing in securities, in any manner whatsoever, and
3) directed to the Company to call back IPO proceeds to the tune of Rs. 45.40 crores and deposit in an interest bearing escrow account with a scheduled commercial bank within 7 days of the date of the order." |
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