August 01, 2014
PR No. 077/2014
Order in the matter of Wasankar Wealth Management Limited
Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an order dated
July 31, 2014 under sections 11, 11(4), 11A and 11B of SEBI Act, 1992 in the matter of Wasankar Wealth
Management Limited, directing the company and its promoter/directors- Prashant Jaidev Wasankar, Mithila Vinay
Wasankar, Vinay Jaidev Wasankar, Bhagyashree Prashant Wasankar and Abhijeet Jayant Chaudhari) :
| a) |
not to mobilize any funds from investors through the issue of Non -Convertible Preference Shares (NCPS) or
through the issue of equity shares or any other securities, to the public and/or invite subscription, in any manner
whatsoever, either directly or indirectly till further directions; |
| b) |
not to issue any prospectus or any offer document or issue advertisement for soliciting money from the public
for the issue of securities, in any manner whatsoever, either directly or indirectly, till further orders; |
| c) |
not to access the securities market and further prohibited from buying, selling or otherwise dealing in the
securities market, either directly or indirectly, till further directions; |
| d) |
to provide a full inventory of all its assets and properties; |
| e) |
not to dispose of any of the properties or alienate or encumber any of the assets owned/acquired by that
company through the issue of NCPS, without prior permission from SEBI; |
| f) |
not to divert any funds raised from public at large through the issue of NCPS, which are kept in bank account(s)
and/or in the custody of the company |
The company was engaged in fund mobilizing activity through issue of Non-convertible Preference Shares to more
than 49 person without complying with the relevant provisions of the Companies Act, 1956.
Mumbai
August 01, 2014
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For full copy of order against ABHIJEET JAYANT CHAUDHARI, click here.
For full copy of order against BHAGYASHREE PRASHANT WASANKAR, click here.
For full copy of order against MITHILA VINAY WASANKAR, click here.
For full copy of order against PRASHANT JAIDEV WASANKAR, click here.
For full copy of order against VINAY JAIDEV WASANKAR, click here.
For full copy of order against WASANKAR WEALTH MANAGEMENT LTD., click here.
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