SEBI v. Unisys Softwares and Holding Industries Limited and others (funded preferential allotment, 2022)

Judgment entered

Checked against the primary document on October 9, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, in a single reading of the order; an independent second reading of 60 SEBI records agreed on every field for 56, the four misses being penalty amounts; a later sample of 50 of the SEBI records added on 9 October agreed on every field for 46. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

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In April 2022 a SEBI adjudicating officer penalised Unisys Softwares and Holding Industries Limited and 22 related companies Rs 46 lakh jointly and severally, plus Rs 4 lakh on Unisys under the securities contracts law, for funding allottees of its 2011 preferential issue through conduits. The order treats the arrangement as a fraud on investors that faked genuine capital infusion.

The record

Structured fields for this action, as recorded in our case library.
Agency	SEBI (India)
Date filed	2022-04-13
Date resolved	2022-04-13
Court	SEBI Adjudicating Officer
Status	judgment
Asset class	equities
Instruments	Unisys Softwares and Holding Industries Limited shares
Venue	BSE, Calcutta Stock Exchange
Criminal parallel	No
Defendants	Unisys Softwares and Holding Industries Limited (entity) ; Madhuvan Datamatics Traders Private Limited (entity) ; Matara Electrical Traders Private Limited (entity) ; Everlink Distributors Private Limited (entity) ; Sahayta Financial Consultancy Services India Private Limited (entity) ; Neha Cassettes Private Limited (entity) ; Jai Ambe Cassettes Private Limited (entity) ; Brijdham Dealcom Private Limited (entity) ; Gulistan Vanijya Private Limited (entity) ; Vibhuti Multi Trade Private Limited (entity) ; Allbright Electricals Private Limited (entity) ; Bhushan Power and Steel Limited (entity)
Also named elsewhere	Unisys Softwares & Holding Industries Ltd is named in 1 other matter
Techniques

What was ordered

Civil penalty: —
Disgorgement: —
Prejudgment interest: —
Total relief: —
Alleged gain: —
Penalty as published: 5m INR

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars. This regulator states penalties in INR. The figure is recorded as published and is not converted, so it does not appear in the USD totals or medians used elsewhere on this site.

What is alleged to have happened

This adjudication order of 13 April 2022 involves 23 noticees, all companies, in the matter of Unisys Softwares and Holding Industries Limited, whose shares were listed on the BSE and the Calcutta Stock Exchange. SEBI's investigation covered January 2010 to November 2014 and looked at changes in promoter shareholding, disclosure compliance and funding of the company's preferential allotment of 28 March 2011.

On the funding point, the order records that Unisys transferred Rs 5.25 crore in February 2011 to entities from which the seven preferential allottees (noticees 2 to 8) received money on the same day and the next, and that the fund trail for all seven led back to a group of conduit companies. SEBI alleged that the company gave financial assistance to the allottees for subscribing to its own issue, limiting genuine capital infusion, in breach of section 12A of the SEBI Act and the PFUTP Regulations. A separate charge concerned a failure to give a stock exchange disclosure of promoter trust acquisitions.

The adjudicating officer found that Unisys played an integral role in devising a fraudulent scheme in which conduits (noticees 8 to 23) funded the allottees, so giving an impression of capital infusion that was not genuine. The disclosure failure to the Calcutta exchange was treated as technical and venial because the information was public through the BSE, and no penalty was imposed for it. The officer treated the 2019 start of proceedings for a 2011 allotment as a mitigating factor but not a bar.

The penalties were Rs 46 lakh under section 15HA of the SEBI Act, payable jointly and severally by all 23 noticees, and Rs 4 lakh on Unisys under section 23H of the Securities Contracts (Regulation) Act, Rs 50 lakh in all. The order says it cannot direct refunds to the company or cancel the shares in this proceeding.

The record does not show the size of the issue in this order, whether anyone appealed, or any criminal case. The order's description of which noticees were allottees and which were conduits is not fully consistent, so this summary does not attempt to allocate roles beyond those it states.

This library applies no technique tag to the matter, because no technique, because the finding is that an issuer funded its own preferential allotment through conduits, which fits none of the library's techniques with confidence. The tagging is ours, not the regulator's.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the order.

Timeline

2022-04-13 SEBI adjudication order

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

SEBI order

The linked release is published by the issuing regulator under its own terms. Our summary and narrative above are our own writing.

Record added October 8, 2026. submit a correction.