Federal Court of Australia
Federal Court of Australia
Australia Securities and Investments Commission v Prakash [2024] FCA 321 File number(s): QUD 168 of 2024
Judgment of: MEAGHER J
Date of judgment: 28 March 2024
Catchwords: CORPORATIONS – investigations by Australian Securities and Investments Commission – ex parte application for appointment of receivers, asset preservation, disclosure and travel restriction orders – where ASIC suspects contraventions of s 12CB of the Australian Securities and Investments Commission Act 2001 (Cth) (ASIC Act); ss 911A, 912A and 1041G of the Corporations Act 2001 (Cth), and s 408C of the Criminal Code Act 1899 (Qld) – whether it is necessary or desirable that orders be made – interim orders made
Legislation: Australian Securities and Investments Commission Act 2001(Cth) ss12, 13 Corporations Act 2001 (Cth) ss 192A, 911A, 912A, 1041, 1323(1) Criminal Code Act 1899 (Qld) s 408C Penalties and Sentences Act 1992 (Qld) s35
Division: General Division
Registry: Queensland
National Practice Area: Commercial and Corporations
Sub-area: Regulator and Consumer Protection
Number of paragraphs: 32
Date of hearing: 28 March 2024
Counsel for the Plaintiff: S M Derrington
Solicitor for the Plaintiff: Australian Securities and Investments Commission
ORDERS QUD 168 of 2024
BETWEEN: AUSTRALIAN SECURITIES & INVESTMENTS COMMISSION Plaintiff
AND: SUNNY MAHENDRA PRAKASH First Defendant
PRINCIPAL FINANCIAL SERVICE PTY LTD Second Defendant
SELF-MANAGED SUPER PTY LTD (and others named in the Schedule) Third Defendant
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