October 20, 2015
PR No. 247/2015
Order in the Matter of M/s. Suraksha Agrotech Industries Limited
Shri Prashant Saran, Whole Time Member, SEBI has passed an order dated October 12, 2015 under section 19 of
the Securities and Exchange Board of India Act, 1992 read with sections 11(1), 11(4), 11A and 11B, inter - alia
directing:
The Company, Suraksha Agrotech Industries Limited and its promoters and directors including Mr. Ranjit
Daspattanayak, Mr. Barun Kumar Nandi, Mr. Indranil Das, Mr. Arunabha Mukhopadhyay, Mr. Akhil Chandra Saha
and Mr. Subrata Das jointly and severally, shall forthwith refund the money collected by the Company through the
issuance of Redeemable Preference Shares to the investors including the money collected from investors, till date,
pending allotment of securities, if any, with an interest of 15% per annum compounded at half yearly intervals, from
the date when the repayments became due to the investors till the date of actual payment.
The Company is directed not to, directly or indirectly, access the capital market by issuing prospectus, offer
document or advertisement soliciting money from the public and are further restrained and prohibited from buying,
selling or otherwise dealing in the securities market, directly or indirectly in whatsoever manner, from the date of this
Order till the expiry of 4 years from the date of completion of refunds to investors as directed above.
The directors including former directors, namely, Mr. Ranjit Daspattanayak, Mr. Barun Kumar Nandi, Mr. Indranil
Das, Mr. Arunabha Mukhopadhyay, Mr. Akhil Chandra Saha and Mr. Subrata Das, are restrained from accessing
the securities market and further prohibited from buying, selling or otherwise dealing in the securities market,
directly or indirectly in whatsoever manner, with immediate effect. They are also restrained from issuing prospectus,
offer document or advertisement soliciting money from the public and associating themselves with any listed public
company and any public company which intends to raise money from the public, or any intermediary registered with
SEBI. The above directions shall come into force with immediate effect and shall continue to be in force from the
date of this Order till the expiry of 4 years from the date of completion of refunds to investors, as directed above.
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
October 20, 2015 |