JUDGMENT :

(Prayer: Criminal Appeal filed u/s.374(2) of the Code of Criminal Procedure, 1973, praying to call for the records in the judgment dated 25.04.2017 passed by the learned XIX Additional Sessions Judge, Chennai – 1 in Sessions Case 356 of 2010, set it aside by acquitting the Appellants.)

1. The first appellant is a Company incorporated under the Companies Act, namely Kunnamkulam Paper Mills Ltd., and the appellants 2 to 7 are its Directors.

2. On 28.03.2001, they made an allotment of 1,73,995 equity shares of Rs.10/- each to 163 persons. The said allotment is directly in violation of the provisions of SEBI (Disclosure and Investor Protection) Guidelines 2000. Therefore, the matter was taken up by SEBI and by an order dated 10.04.2003, the appellants were directed to refund the money collected under the issue made by the offer document dated 15.02.2001 to the investors with interest not below the bank rate charged by the commercial bank for long term fixed deposits. The appellants were directed to refund the money within a period of 30 days from the date of the order and to file compliance report within a period of 15 days there from. It is mentioned that, on failure to compl