January 08, 2015
PR No. 004/2015

Order in the matter of M/s Silicon Projects India Limited

Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an order dated January 06, 2015 in the matter of Silicon Projects India Ltd, 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 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 from SEBI and not to divert any funds raised from public at large through the Offer of Non Convertible Redeemable Debenture, which are kept in bank account(s) and/or in the custody of the company.

The Debenture Trustees, viz. Mr. Afzal Hussain is prohibited from continuing with his present assignment as debenture trustees in respect of the Offer of Non Convertible Redeemable Debenture of the company 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 and its Directors, are 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 was engaged in fund mobilizing activity through issue of Non convertible Redeemable Debentures to more than 49 person without complying with the relevant provisions of the Companies Act, 1956, read with Section 465 of the Companies Act, 2013 and provisions of the SEBI (issue and Listing of Debt Securities) Regulations, 2008.

Mumbai
January 08, 2015

For full copy of order against AFZAL HUSSAIN, click here.

For full copy of order against ASESH MITRA, click here.

For full copy of order against BIJAY PRATAP MISHRA, click here.

For full copy of order against BISWAJIT BERA, click here.

For full copy of order against DEBASHIS DEY, click here.

For full copy of order against JUGAL KISHOR GUPTA, click here.

For full copy of order against SILICON PROJECTS INDIA LTD., click here.

For full copy of order against SWARUP KUMAR DUTTA, click here.

For full copy of order against TAPAN SAHOO, click here.

For full copy of order against TUSHAR JANA, click here.