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SOURCE OF INFORMATION

SOURCE OF INFORMATION : SECURITIES AND EXCHANGE BOARD OF INDIA WEBSITE – PRESS RELEASES/ CHAIRMAN’S AND MEMBER’S ORDERS / AO ORDERS/ SAT ORDERS/ NEWSPAPER ADS
UPDATED TILL : 03-JUL-2025

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

COMPANIES: DIRECTED TO RETAIN FUNDS/OTHER ASSETS TO THE EXTENT OF RECEIVABLES SHOWN AS OUTSTANDING TO CG POWER & INDUSTRIAL SOLUTIONS LTD.

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person ACTON GLOBAL PVT.LTD.

(PAN:AAOCA2658K)  
  INDULGED IN MIS-STATEMENT OF ACCOUNTS AND DIVERSION OF FUNDS FROM LISTED COMPANY AND/OR ITS SUBSIDIARIES/ASSOCIATES VIOLATING SECTIONS 12A (A) TO (C) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(B) TO 3(D) AND 4(2)(F) & (R) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF CG POWER & INDUSTRIAL SOLUTIONS LTD.   DIRECTED TO RETAIN FUNDS/OTHER ASSETS TO THE EXTENT OF RECEIVABLES SHOWN AS OUTSTANDING TO CG POWER & INDUSTRIAL SOLUTIONS LTD.

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY OF THEIR ASSETS/PROPERTIES/ SECURITIES

DIRECTED NOT TO DIVERT ANY FUNDS RAISED FROM INVESTORS

RESTRAINED FROM ACCESSING SECURITIES MARKET AND FURTHER PROHIBITED FROM BUYING/SELLING OR OTHERWISE DEALING IN SECURITIES AND/OR UNITS OF MUTUAL FUNDS DIRECTLY OR INDIRECTLY OR BEING ASSOCIATED WITH SECURITIES MARKET IN ANY MANNER FROM 17-SEP-2019 TO 16-SEP-2024

DIRECTED TO FREEZE EXISTING HOLDING OF SECURITIES, INCLUDING UNITS OF MUTUAL FUNDS

IMPOSED PENALTY RS.5,00,00,000

17-SEP-2019 		SEBI VIDE ITS ORDER DATED 11/03/2020 DIRECTED TO A) RETAIN FUNDS/OTHER ASSETS TO EXTENT OF RECEIVABLES SHOWN AS OUTSTANDING TO CG POWER AND INDUSTRIAL SOLUTIONS LTD. AND LIABILITY B) RESTRAIN FROM DISPOSING, SELLING OR ALIENATING, IN ANY OTHER MANNER, ASSETS OR DIVERT FUNDS, TILL FURTHER ORDERS B) PERMITTED TO MAKE PAYMENTS TOWARDS DUES TO STATUTORY AUTHORITIES, INCUR EXPENSES TOWARDS PROVIDENT FUND, PENSION AND GRATUITY, INSURANCE AND SIMILAR OTHER EXPENSES C) MAKE PAYMENTS/WAGES TO EMPLOYEES/RETAINER/STAFF/ SECURITY GUARDS, ETC. AND MAKE PAYMENTS TOWARDS LEGAL EXPENSES

SEBI VIDE ITS ORDER DATED 23/02/2022 ALLOWED THE EXPENSES WITHOUT PREJUDICE TO THE DIRECTION TO THE APPLICANT TO RETAIN FUND/OTHER ASSETS, AS GIVEN IN EX-PARTE ORDER DATED 17/09/2019  
2
History of entity/person AVANTHA HOLDINGS LTD.

(PAN:AABCB6134E)  
  INDULGED IN MIS-STATEMENT OF ACCOUNTS AND DIVERSION OF FUNDS FROM LISTED COMPANY AND/OR ITS SUBSIDIARIES/ASSOCIATES VIOLATING SECTIONS 12A (A) TO (C) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(B) TO 3(D) AND 4(2)(F) & (R) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF CG POWER & INDUSTRIAL SOLUTIONS LTD.   DIRECTED TO RETAIN FUNDS/OTHER ASSETS TO THE EXTENT OF RECEIVABLES SHOWN AS OUTSTANDING TO CG POWER & INDUSTRIAL SOLUTIONS LTD.

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY OF THEIR ASSETS/PROPERTIES/ SECURITIES

DIRECTED NOT TO DIVERT ANY FUNDS RAISED FROM INVESTORS

RESTRAINED FROM ACCESSING SECURITIES MARKET AND FURTHER PROHIBITED FROM BUYING/SELLING OR OTHERWISE DEALING IN SECURITIES AND/OR UNITS OF MUTUAL FUNDS DIRECTLY OR INDIRECTLY OR BEING ASSOCIATED WITH SECURITIES MARKET IN ANY MANNER FROM 17-SEP-2019 TO 16-SEP-2024

DIRECTED TO FREEZE EXISTING HOLDING OF SECURITIES, INCLUDING UNITS OF MUTUAL FUNDS

IMPOSED PENALTY RS.5,00,00,000

17-SEP-2019 		SAT: APPEAL DISMISSED

SAT: SAT: SAT VIDE ITS ORDER DATED 18/02/2020 ALLOWED THE APPLICATION AND DIRECTED SEBI TO PASS CONFIRMATORY ORDER ON OR BEFORE 10/03/2010  
3
History of entity/person SOLARIS INDUSTRIAL CHEMICALS LTD.

(PAN:AAICS4672H)  
  INDULGED IN MIS-STATEMENT OF ACCOUNTS AND DIVERSION OF FUNDS FROM LISTED COMPANY AND/OR ITS SUBSIDIARIES/ASSOCIATES VIOLATING SECTIONS 12A (A) TO (C) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(B) TO 3(D) AND 4(2)(F) & (R) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF CG POWER & INDUSTRIAL SOLUTIONS LTD.   DIRECTED TO RETAIN FUNDS/OTHER ASSETS TO THE EXTENT OF RECEIVABLES SHOWN AS OUTSTANDING TO CG POWER & INDUSTRIAL SOLUTIONS LTD.

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY OF THEIR ASSETS/PROPERTIES/ SECURITIES

DIRECTED NOT TO DIVERT ANY FUNDS RAISED FROM INVESTORS

RESTRAINED FROM ACCESSING SECURITIES MARKET AND FURTHER PROHIBITED FROM BUYING/SELLING OR OTHERWISE DEALING IN SECURITIES AND/OR UNITS OF MUTUAL FUNDS DIRECTLY OR INDIRECTLY OR BEING ASSOCIATED WITH SECURITIES MARKET IN ANY MANNER FROM 17-SEP-2019 TO 16-SEP-2024

DIRECTED TO FREEZE EXISTING HOLDING OF SECURITIES, INCLUDING UNITS OF MUTUAL FUNDS

IMPOSED PENALTY RS.5,00,00,000

17-SEP-2019 		SEBI VIDE ITS ORDER DATED 11/03/2020 DIRECTED TO A) RETAIN FUNDS/OTHER ASSETS TO EXTENT OF RECEIVABLES SHOWN AS OUTSTANDING TO CG POWER AND INDUSTRIAL SOLUTIONS LTD. AND LIABILITY B) RESTRAIN FROM DISPOSING, SELLING OR ALIENATING, IN ANY OTHER MANNER, ASSETS OR DIVERT FUNDS, TILL FURTHER ORDERS B) PERMITTED TO MAKE PAYMENTS TOWARDS DUES TO STATUTORY AUTHORITIES, INCUR EXPENSES TOWARDS PROVIDENT FUND, PENSION AND GRATUITY, INSURANCE AND SIMILAR OTHER EXPENSES C) MAKE PAYMENTS/WAGES TO EMPLOYEES/RETAINER/STAFF/ SECURITY GUARDS, ETC. AND MAKE PAYMENTS TOWARDS LEGAL EXPENSES

SAT: SAT VIDE ITS ORDER DATED 06/04/2021 DISMISSED THE APPEAL AND DIRECTED TO DISCONTINUE RESTRAIN ORDER DATED 17/09/2019  
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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