SCAM:ROC Mumbai Denied BSE and L&T IPO SEBI Observation Copy

Final Status of   ROCMU/R/2017/50039

Applicant Name	Sapan Shrivastava
Date of receipt	23/03/2017
Request Filed With	Registrar of Companies, Mumbai
Text of Application	The Bombay Stock exchange (BSE) , L& T Technology services filed RHP at ROC Mumbai or any RTI question Copy of Final SEBI observation as per ROC record of aforesaid companies.
Request document (if any)
Status	REQUEST DISPOSED OF as on 21/04/2017
Date of Action	21/04/2017
Remarks	Reply :- With respect to query, In view of the above, it is stated that pursuant to section 399 of Companies Act, 2013 the inspection of the document filed along with prospectus can be inspected only during the fourteen days beginning with the date of the prospectus, and at other times, only with the prior permission of central government. The document as required by you was already made available for public viewing. The non availability of the observation letter in public domain would indicate that the same is not available for public viewing at this stage without prior approval of the central government. Further, it is stated that pursuant section 8(1)(e) of the RTI Act, 2005 information available to person in his fiduciary relationship, unless the competent authority is satisfied that larger public interest warrants the disclosure of such information, is not required to be provided. Further it is stated that information as sought by you is related to SEBI observations which is not this public authority. You can approach the concerned regulatory authority for seeking information as required by you.  In view of the above the information as required by you cannot be provided.

SEBI give observation to each IPO . These observation have certain conditions by complying which only IPO can be launched. But as per our study of ICICI Pru Life IPO, companies do not comply all objections and file RHP at Registrar of Companies  . SEBI is also corrupt body which never make observation copy and companies reply  online and in RTI also they deny such information.
This irregularities is moving towards IPO scam of SEBI and ROC. The companies not fit as per SEBI act launched their IPO by making "setting" at SEBI and MCA . Peoples are suspecting that the many companies in Share market may have not cleared SEBI objections?
ROC is cleaver body denying information under RTI act under company act. It means ROC should close RTI counter and operate through Company act only.

Section 399 in The Companies Act, 1956

399. Right to apply under section 397 and 398.

(1) The following members of a company shall have the right to apply under section 397 or 398:-

(a) in the case of a company having a share capital, not less than one hundred members of the company or not less than one- tenth of the total number of its members, whichever is less, or any member or members holding not less than one- tenth of the issued share capital of the company, provided that the applicant or applicants have paid all calls and other sums due on their shares;

(b) in the case of a company not having a share capital, not less than one- fifth of the total number of its members.

(2) For the purposes of sub- section (1), where any share or shares are held by two or more persons jointly, they shall be counted only as one member.

1. Ins. by Act 65 of 1960, s. 153.

2. Subs. by Act 53 of 1963, s. 11, for" will be conducted" (w. e. f. 1- 1- 1964 ).

3. Subs. by Act 31 of 1988, s. 67 (w. e. f. 31. 5. 1991 ).

(3) Where any members of a company are entitled to make an application in virtue of sub- section (1), any one or more of them having obtained the consent in writing of the rest, may make the application on behalf and for the benefit of all of them.

(4) The Central Government may, if in its opinion circumstances exist which make it just and equitable so to do, authorise any member or members of the company to apply to, the ¹Company Law Board] under section 397 or 398, notwithstanding that the requirements of clause (a) or (b), as the case may be, of sub- section (1) are not fulfilled.

(5) The Central Government may before authorising any member or members as aforesaid, require such member or members to give security for such amount as the Central Government may deem reasonable, for the payment of any costs which the ¹ Company Law Board] dealing with the application, may order such member or members to pay to any other person or persons who are parties to the application.