PRESS RELEASE - SEBI

August 21, 2015
PR No. 212/2015

Order in the Matter of M/s. Eminence Infraprojects Limited

Shri S. Raman, Whole Time Member, SEBI has passed an order dated August 06, 2015 inter-alia directing M/s.Eminence Infraprojects Limited and its Directors as under:

  1. EIL shall forthwith cease to mobilize funds from investors through the Offer of Redeemable Preference Shares or through the issuance 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;
  2. EIL and its present Directors, viz. Shri Somenath Banerjee, Shri Apu Halder, Supriya Singha Roy, Shri Tarun Kumar Das and Shri Koushik Mukherjee 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;
  3. EIL and its abovementioned 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;
  4. EIL shall provide a full inventory of all its assets and properties;
  5. EIL's abovementioned Directors shall provide a full inventory of all their assets and properties;
  6. EIL and its abovementioned Directors shall not dispose of any of the properties or alienate or encumber any of the assets owned/acquired by that company through the Offer of Redeemable Preference Shares, without prior permission from SEBI;
  7. EIL and its abovementioned present Directors shall not 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 EIL;
  8. EIL and its abovementioned Directors shall co-operate with SEBI and shall furnish all information/documents sought vide letter dated November 17, 2014.
  9. EIL and its abovementioned Directors are further directed jointly and severally to refund money collected through the Offer of Redeemable Preference Shares alongwith interest, if any, promised to investors therein; not to issue 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, for an appropriate period and Directing them to refrain from accessing the securities market and prohibiting them from buying, selling or otherwise dealing in securities for an appropriate period.

The above directions shall take effect immediately and shall be in force until further orders.
 
It is observed that the company was engaged in fund mobilizing activity through issue of Redeemable Preference Shares to more than 49 persons without complying with the provisions of the Companies Act, 1956.

 
Mumbai
 
August 21, 2015

 

For full copy of order against APU HALDER, click here.

For full copy of order against EMINENCE INFRAPROJECTS LTD., click here.

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

For full copy of order against SOMENATH BANERJEE, click here.

For full copy of order against SUPRIYA SINGHA ROY, click here.

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