Koutons Retail India Ltd

BSE: 532901 | NSE: KOUTONS | ISIN: INE406I01014

Market Cap: [Rs.Cr.] 7 | Face Value: [Rs.] 10
Industry: Textiles - Products
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Board Of Directors
Chairman & Wholetime Director D P S Kohli
Managing Director Bhupinder Singh
Deputy Managing Director Gurmeet Singh Sawhney
Whole-time Director Kailash Chand Sharma
Company Secretary Aditya Rungta
Independent Director Munish Kumar Katara
Nishant Kumar
Kamal Kumar
Chouhan Som Prabh Singh

Facts:
Munish Kumar Katara is the independent director appointed on 3/2/2011.- complaint states that Khandelwal & kabra
introduced 3 other directors to kotecha in monthof January, 2011---in jan katara was not the director---no proper dd
by kotecha.
Name of Nirmal Kotechchas company: Skyline Portfolio Services Pvt Ltd- Investment & Trading..office at 207, Pratap
Apartment, Karter Road No 3, Near Ambaji Temple, Borivali (East) 66
Brother of Nirmal ---Raunak does his business from same office at Borivli in name of Mark Portfolio Services Pvt Ltd.
Khandelwal & Kabra introduced 3 persons (1) DPS Kohli, ( Bhupindersingh Sahney & (3)Munish Kumar Katara to
Kotechas in Jan 2011.

5 Cars as follows agreed to be sold by 2 persons (1) DPS Kohli, (2) Bhupindersingh Sahney to Kotechas
Sr
No
Seller Purchaser Car model Amount Manner of payment Issues
1 DPS Kohli Raunak
Kotecha
BMW car
DL04CNA2050
2 crores
From Raunaks- Mark
Portfolio Services Pvt
Ltd Axis Bank A/c-
910020010299452 by
RTGS on 17/3/2011 in
Koutons Retail India Ltd
bak a/c no
056010200013350

Hypothecated to
Tata Capital
2 DPS Kohli Raunak
Kotecha
Porche car-
DL04CAV0909
Included
in above
amt
Same as above Hypothecated to
ICICI Bank
3 Bhupinder Nirmal BMW car no 2 crores
From Skyline Portfolio Hypothecated to
Singh Sawhney Kotecha DL06CJ6804
Services Pvt Ltd s Axis
Bank A/c-
911020011084432 by
RTGS on 17/3/2011 in
BSs a/c not being
remembered by
Kotecha

Tata Capital
4 Bhupinder
Singh Sawhney
Nirmal
Kotecha
RangeRover
car DL04CNA
1483
Included
in above
amt
From Skyline Portfolio
Services Pvt Ltd s Axis
Bank A/c-
911020011084432 by
RTGS on 17/3/2011 in
BSs a/c not being
remembered by
Kotecha

Sold to 3
rd
party
5 Bhupinder
Singh Sawhney
Nirmal
Kotecha
Bentley Car
DL02EHY0004
Included
in above
amt
From Skyline Portfolio
Services Pvt Ltd s Axis
Bank A/c-
911020011084432 by
RTGS on 17/3/2011 in
BSs a/c not being
remembered by
Kotecha

Sold to 3
rd
party

Sold to 3
rd
party

After money transfer on 17/3/2011 by Kotechachas both BPS & DPS gave Xerox copies of car docs alongwith form
29 & 30 to Kotechas and said that within1/2 months the car will be transferred by Delhi RTO agent
Since after 2 months car were not transferred upon investigation by kotechas they found 2 card as above sold to 3
rd

parties after agreeing with kotechas and taking money from them. 3 balance cars were found hypothecated with
financials institutions and banks as above;
Since cars were not handed over Kotechas approached Khandelwal & Kabra and told that they will make police
complaint against them;
On followup by Kotechas on February 2012 DPS issued 8 cheques of rs 25 each dated 31/3/2012 from Koutons
Retail India Ltd, SBI account at MG Road Gurgaon a/c no 32015902585
on February 2012 BPS issued 8 cheques of rs 25 each dated 31/3/2012 from DPS & his wife satinders kaur a/c in
hdfc gurgaon bank a/c no 12021000004883 dated 28/8/2012;
All above cheques on deposit were bounced
October 15, 2013:
Koutons Retail India Ltd has now informed BSE that a winding-up order was passed by the Honble High Court of
Delhi and Official Liquidator was appointed. The Company moved an application to High Court for stay of
proceedings by the Official Liquidator. The High Court accepted the application with certain conditions and next date
of hearing is January 06, 2013.
BPS & DPS case is that 4 crores were given by kotechas to their company to invest in business proposal of
100 crores and if balance 96 crores were not given by Kotechas in reasonable time than that 4 crores will be
forfeited
Pyramid Saimira case: Sebi completes probe against five entities
PTI Jan 5, 2014, 11.48AM IST


Tags:
securities markets|
sebi|
Pyramid Saimira shares|
Nirmal Kotecha|
insider trading cases|
Indian capital markets|
fraudulent trades

(The Sebi also said its decision)
MUMBAI: The Sebi has brought to closure its probe against five entities involved in fraudulent trades in Pyramid
Saimira shares, one of the biggest insider trading cases in Indian capital markets, even as proceedings have been
initiated against the main accused Nirmal Kotecha.
While all five entities have been found "facilitating, aiding and abetting principal offender Nirmal Kotecha in his
nefarious securities market related activities", the Sebi said four of them have already undergone the required
debarment from the securities markets for more than four years since interim orders were issued against them.
As a result, the restraining order against the four, which also includes two entities indirectly controlled by Nirmal
Kotecha, have been removed.
Passing final orders against them, the Sebi however said another entity, Nirman Management Services (presently
known as Teakwood Management Services), would undergo debarment from the securities market for a period of
total seven years for facilitating Kotecha in his fraudulent dealings.
The period of debarment already undergone by this entity since passage of Sebi's interim order of April 23, 2009
would be taken into account for this seven-year restraint order, the regulator said.
The Sebi also said its decision to remove restrictions from four entities is "without prejudice to the proceedings which
have been initiated vis-a-vis Nirmal Kotecha".
The matters relate to one of the biggest cases of insider trading and fraudulent trade. A former promoter Nirmal
Kotecha sold a huge number of shares of Pyramid Saimira Theatres in December 2008 after dissemination of false
information in media based on a forged Sebi letter asking promoter PS Saminathan to make an open offer.
The forged Sebi letter was alleged to have been planned and executed by Kotecha himself and persons working with
him.
Taking action in the case, the Sebi had passed interim orders against more than 200 entities, including Saminathan
and Kotecha, on April 23, 2009, barring them from capital markets.
The four entities, including Nirmal's mother Veena Kotecha and grandfather Manilal Kotecha, were barred from the
markets at that time for permitting Nirmal Kotecha to use their bank accounts for his fraudulent funding activities.
The Sebi probe later found that Kotecha and entities associated with him, including his friends and relatives, made
significant undue profit from the publication of forged letter and the consequent trading activities, which enabled them
to offload substantial holdings in shares of Pyramid Saimira.
In different final orders on these four, passed on January 3, the Sebi said the four-years-and-eight-month period of
ban already undergone by them will "broadly commensurate" for the the charge of aiding and abetting Nirmal
Kotecha in violating PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) Regulations.
In the case of Nirman Management, the Sebi said by allowing its director, Nirmal Kotecha, to use its bank account for
funding activities which operated as a fraud on genuine investors, the entity had "indeed aided and abetted Nirmal
Kotecha and thus violated provisions of...the PFUTP Regulations".
However, the market regulator said "the period of prohibition already undergone by Nirman Management Services
pursuant to Sebi ad interim order dated April 23, 2009 shall be taken into account for the purpose of computing seven
years of prohibition imposed in this order".