PRESS RELEASE - SEBI

July 14 2016
PR No. 122/2016

Order against the past directors of M/s Silicon Projects India Limited

Securities and Exchange Board of India (SEBI) vide an Order no. WTM/PS/167/ERO/FEB/2016 dated March 03, 2016 (“Final Order”), passed certain directions against Silicon Projects India Limited (“SPIL”)and its Directors, viz. Shri Bijay Pratap Mishra, Shri Biswajit Bera, Shri Asesh Mitra, Shri Tapan Sahoo, Shri Jugal Kishor Gupta, Shri Swarup Kumar Dutta, Shri Tushar Janaand Shri Debashis Dey, for violating the provisions of Section 56, Section 60 read with Section 2(36), Section 73, Sections 117B–C of the Companies Act, 1956 read with Companies Act, 2013 and the SEBI (Issue and Listing of Debt Securities) Regulations, 2008 by engaging in fund mobilising activity from the public, through the issue of Secured Non–Convertible Redeemable Debentures(NCD). 
 
It has come to SEBI’s notice that Shri Shib Narayan Das, Smt Antara Mukherjee and Smt Sayanti Sen were earlier Directors of SPIL during the Offer of NCD.
 
Shri S Raman, Whole Time Member, SEBI, has passed an interim order cum show cause notice dated July 07, 2016 against the above mentioned past directors of SPIL inter-alia directing that the above mentioned past directors of SPIL 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 abovementioned past Directors of SPIL 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;

Mumbai
July 14, 2016

 


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

For full copy of order against SAYANTI SEN, click here.

For full copy of order against SHIB NARAYAN DAS, click here.