Noticee No. 1, 2, & 3 vide common letter dated February 09, 2020 and July 15, 2020 submitted their reply / written submissions in the matter. Their submission in brief are as under:
Noticee No. 4 vide letter dated February 17, 2020, Noticee No. 5 to 9 vide common letter dated February 17, 2020 and Noticee No. 4 to 9 vide common letter / email dated July 15, 2020 submitted their reply / written submissions in the matter. Their submission in brief are as under:
Noticee No. 4 to 9 is neither “promoter group” nor “persons acting in concert”. There was no shared common objective of committing any fraud or deception or illegality by any of the Noticee No. 4 to 9 with any of the promoter of RSGBL. A finding of fraud, deception etc. cannot be based on suspicion and conjecture and must be proved beyond reasonable doubt
Noticee No. 10, 11 & 12 did submit any reply to the SCN.
Noticee No. 13 vide letter dated January 22, 2020 submitted his reply in the matter. His submission in brief are as under:
Noticee No. 14 to 29 vide common email dated February 10, 2020 and vide common letter / email dated July 15, 2020 submitted their reply / written submissions in the matter. Their submission in brief are as under:
Noticee No. 29 had purchased 5,000 shares of RSGBL out of the loans availed in normal course of business. Noticee No. 29 has used the amount of Rs.50 lakh for the purchase of shares of other listed company. Except for the transaction of 5,000 shares of RSGBL, there is no funds trail and no connection with dealing the scrip of RSGBL nor any relations with the promoters of RSGBL. The account statement and contract notes evidencing the entire trail of funds till the utilisation of the same are enclosed.
Noticee No. 19 had availed a loan from Metroglobal Limited and payment of Rs. 150 lakhs mentioned in the Show Cause Notice is towards repayment of the said loan. The amounts outstanding against the loans from Metroglobal Limited loan as on March 31, 2019 is Rs.425.10 Lakhs. The loan ledger from April 1, 2016 to March 31, 2019 enclosed
Noticee No. 30 vide email dated January 11, 2020 and July 07, 2020 submitted her reply / written submissions in the matter. Her submission in brief are as under:
Noticee No. 34 vide letter dated February 17, 2020 submitted that RSGBL is a body corporate distinct from its promoters and management and SCN has been issued to RSGBL as the delisting process relates to RSGBL and there is no other allegation against RSGBL in the SCN. Thus, the allegations contained in the SCN are denied and untrue.
