September 24, 2014
PR No. 114/2014

Order in the matter of M/s Weird Industries Limited

Shri S. Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an order dated September 15, 2014 under sections 11, 11(4), 11A and 11B of SEBI Act, 1992 in the matter of Weird Industries Limited (WIL), inter-alia directing that the company shall not mobilize funds from investors. Further, the company and its directors are prohibited from issuing 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. The company and its directors are also restrained from accessing the securities market and further prohibited from buying, selling or otherwise dealing in the securities market, either directly or indirectly, till further directions.
 
The Company, its directors have further been directed not to dispose off any of the properties or alienate or encumber any of the assets of the Company without prior permission of SEBI and not to divert any funds raised from public at large through the Offer of Preference Shares and offer of NCDs, which are kept in bank account(s) and/or in the custody of the company.
 
Shri Hari Pada Seth is prohibited from continuing with his present assignment as a debenture trustee in respect of the Offer of NCDs of WIL and also from taking up any new assignment or involvement in any new issue of debentures, etc. in a similar capacity, from the date of this order till further directions. 
 
The company was engaged in fund mobilizing activity through issue of Preference Shares as well as Non-Convertible Debentures to more than 49 person without complying with the relevant provisions of the Companies Act, 1956.

 
Mumbai

September 24, 2014

For full copy of order against BHABAGRAHI BEHERA, click here.

For full copy of order against CHAND MOHAN GHOSH, click here.

For full copy of order against GOPAL DALAPATI, click here.

For full copy of order against HARI PADA SETH, click here.

For full copy of order against JADUNATH JENA, click here.

For full copy of order against MOHAMMED ARIFF BILLA, click here.

For full copy of order against RAMPROSAD MONDAL, click here.

For full copy of order against SAHAJAHAN KHAN, click here.

For full copy of order against SANJAY KUMAR DAS, click here.

For full copy of order against WEIRD INDUSTRIES LTD., click here.