Archive · 25 Jul 2025
Mumbai Court Orders M'Belle Directors to Pay ₹1 Crore Or Face Jail
A special court has told two directors of a company called M'Belle International to pay a fine of 1 crore rupees because they didn't follow rules.
This all started because they didn't give information about some company's stock prices back in 2002.
The company was fined in 2004, but didn't pay, and SEBI, the financial watchdog, took them to court.
Over the years, warnings were ignored.
One director passed away, one was found not guilty, another case was separated and the other two directors must now pay the fine or go to jail.
SEBI court ordered two M'Belle International directors to pay ₹1 crore each or face six months in jail.
The case concerns a 2004 fine imposed on M'Belle International for non-compliance regarding share prices.
The investigation started in 2002 regarding the share prices of M/s Roofit Industries Ltd (RIL).
SEBI initiated criminal proceedings after the company repeatedly ignored warnings and a 2007 notice.
One director died, one was acquitted, and another's case was separated; two others must now pay the fine.
- Who
- SEBI, M'Belle International and its directors.
- What
- SEBI court ordered two directors of M’Belle International to pay a fine for non-compliance.
- When
- The original fine was imposed in 2004; the case was filed in November 2014.
- Where
- Mumbai
- Why
- For failing to comply with a penalty imposed by SEBI regarding share prices of Roofit Industries Ltd.
- Company
- M’Belle International Pvt Ltd
- Directors Ordered to Pay
- Gopu Belani and Anupama Motwani
- Fine Amount
- ₹1 crore each
- Potential Jail Time
- Six months
- Original Offense Year
- 2002 (investigation), 2004 (fine)