PRESS RELEASE - SEBI

February 23, 2016
PR No. 031/2016


Order in the Matter of M/s. Ambitious Diversified Projects Management Limited

Shri Prashant Saran, Whole Time Member, SEBI has passed an order dated February 15, 2016 against Ambitious Diversified Projects Management Limited (ADPML), its Directors viz. Shri Rajkumar Yadav, Shri Pradeep Ojha, Shri Satyendra Singh Bhadouria, Shri Kunaal Tiwary, Shri Onkar Singh, Shri Arshad Hussain, Shri Nimai Kumbhakar, Shri Apurba Kumar Mondol, Shri Pradip Kumar Kundu, Shri Mriganka Sekhar Chakraborty, Shri Mohammad Sohaib, Shri Arindam Kundu, Shri Iftekhar Hussain, Shri Rakesh Sharma and its Debenture Trustee, viz. ‘ Ambitious Diversified Trust’ represented by Smt. Sriparna Gupta. The Order inter-alia directs as under:

  1. ADPML shall forthwith cease to mobilize funds from investors through the Offer of NCDs 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. ADPML and its Directors Shri Rajkumar Yadav, Shri Pradeep Ojha, Shri Satyendra Singh Bhadouria, Shri Kunaal Tiwary, Shri Onkar Singh, Shri Arshad Hussain, Shri Nimai Kumbhakar, Shri Apurba Kumar Mondol, Shri Pradip Kumar Kundu, Shri Mriganka Sekhar Chakraborty, Shri Mohammad Sohaib, Shri Arindam Kundu, Shri Iftekhar Hussain, Shri Rakesh Sharma 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. ADPML 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. ADPML and its abovementioned Directors shall provide a full inventory of all its assets and properties;
  5. ADPML and its present Directors viz., Shri Rajkumar Yadav, Shri Pradeep Ojha and Shri Satyendra Singh Bhadouria 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 NCDs, without prior permission from SEBI;
  6. ADPML and its present Directors viz., Shri Rajkumar Yadav, Shri Pradeep Ojha and Shri Satyendra Singh Bhadouria shall not divert any funds raised from public at large through the Offer of NCDs, which are kept in bank account(s) and/or in the custody of ADPML;
  7. ADPML and its abovementioned Directors shall furnish complete and relevant information (as sought by SEBI letters dated April 01, 2014 and April 07, 2014), within 14 days from the date of receipt of this Order;
  8. The Debenture Trustee, viz. ‘ Ambitious Diversified Trust’ represented by Smt. Sriparna Gupta, is prohibited from continuing with its assignment as debenture trustee in respect of the Offer of NCDs of ADPML. They are also prohibited 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 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 Non – Convertible Secured Redeemable Debentures to more than 49 persons without complying with the provisions of the Companies Act, 1956 and provisions of the SEBI (Issue and Listing of Debt Securities) Regulations, 2008.

Mumbai
February 23, 2016

 

For full copy of order against AMBITIOUS DIVERSIFIED PROJECTS MANAGEMENT LTD., click here.

For full copy of order against AMBITIOUS DIVERSIFIED TRUST, click here.

For full copy of order against APURBA KUMAR MONDOL, click here.

For full copy of order against ARINDAM KUNDU, click here.

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

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

For full copy of order against KUNAAL TIWARY, click here.

For full copy of order against MOHAMMAD SOHAIB, click here.

For full copy of order against MRIGANKA SEKHAR CHAKRABORTY, click here.

For full copy of order against NIMAI KUMBHAKAR, click here.

For full copy of order against ONKAR SINGH, click here.

For full copy of order against PRADEEP OJHA, click here.

For full copy of order against PRADIP KUMAR KUNDU, click here.

For full copy of order against RAJKUMAR YADAV, click here.

For full copy of order against RAKESH SHARMA, click here.

For full copy of order against SATYENDRA SINGH BHADOURIA, click here.

For full copy of order against SRIPARNA GUPTA, click here.