PRESS RELEASE - SEBI

November 25, 2014
PR No. 135/2014

Order in the matter of M/s Newland Agro Industries Limited

Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an interim order dated November 20, 2014 under sections 11, 11(4), 11A and 11B of SEBI Act, 1992 in the matter of Newland Agro Industries Limited , 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 and 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 Redeemable Preference shares, 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 Redeemable Preference shares to more than 49 person without complying with the relevant provisions of the Companies Act, 1956.

 
Mumbai
 
November 25, 2014


For full copy of order against ABHIK HAJRA, click here.

For full copy of order against DIPANKAR DE, click here.

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

For full copy of order against HIMADRI BAG, click here.

For full copy of order against KARTICK CHARAN, click here.

For full copy of order against KOUSHIK ROY, click here.

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

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

For full copy of order against SANATAN PAUL, click here.