February 17, 2017
PR No. 013/2017
Order in the matter of Angel Agritech Limited
Shri G. Mahalingam, Whole Time Member, SEBI, has passed an interim order dated February 16, 2017 against
Angel Agritech Limited (AAL) and its Directors, viz. Sumantra Sinha, Rohit Das, Hasibul Haque, Sunirmal Goswami,
Devid Haslaf, Basudev Ghosh, Mohd. Sekh Abdul Robial, Arindam Pal, Firoj Hussain, Imran Ali, Md. Sekh
Nazibulla and its debenture trustee Dristi social welfare trust represented by Ms. Nabina Jahan, under Sections 11,
11(4) and 11B of the SEBI Act, inter - alia directing:
- AAL shall cease to mobilize fresh funds from investors through the offer and allotment of any securities, to
the public and/or invite subscription, in any manner whatsoever, either directly or indirectly;
- AAL and the abovenamed Directors shall not buy, sell or otherwise deal in the securities market, either
directly or indirectly, or associate themselves with any listed company or company intending to raise money from the
public;
- AAL and the abovenamed Directors shall not dispose of, alienate or encumber any of its/their assets or not
divert any funds raised from public either through the offer and allotment of preference shares or through the
offer and allotment of debentures;
- AAL and the abovenamed Directors shall co-operate with SEBI and shall furnish all information/documents
in connection with the offer and allotment of preference shares and offer and allotment of debentures including
the documents sought vide letters dated January 30 2014 and the summons dated January 09, 2015; and
- Dristi Social Welfare Trust and its trustee Ms. Nabina Jahan shall not henceforth act as debenture trustee in
respect of debentures of AAL and shall not take up any new assignment or involvement in any new issue of
securities in a similar capacity.
- Further, AAL and its abovementioned Directors are also called upon to show cause as to why suitable
directions/prohibitions under Sections 11, 11(4), and 11B of the SEBI Act should not be issued/imposed, including
the following directions, namely:-
- AAL and its above named Directors, to jointly and severally refund money collected through the offer and
allotment of preference shares and offer and allotment of debentures, with an interest of 15% per annum (the
interest being calculated from the date when the repayments became due in terms of Section 73(2) of the
Companies Act, 1956 till the date of actual payment) within a period of 180 days from the date of receipt of this
order, supported by a certificate of two independent Chartered Accountants to the satisfaction of SEBI; and
- AAL, its above named Directors, Dristi Social Welfare Trust and its trustee Ms. Nabina Jahan be refrained /
prohibited from accessing the securities market by issue of prospectus / offer document / advertisement and
buying, selling or otherwise dealing in securities in any manner whatsoever, directly or indirectly, for a period of four years
from the date of effecting the refund as directed above.
It is observed that the company was engaged in fund mobilizing activity through issue of Preference Shares and
NCDs to more than 49 persons without complying with the provisions of the Companies Act, 1956.
Mumbai
February 17, 2017
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For full copy of order against ANGEL AGRITECH LTD., click here.
For full copy of order against ARINDAM PAL, click here.
For full copy of order against BASUDEV GHOSH, click here.
For full copy of order against DEVID HASLAF, click here.
For full copy of order against DRISTI SOCIAL WELFARE TRUST, click here.
For full copy of order against FIROJ HOSSAIN, click here.
For full copy of order against HASIBUL HAQUE, click here.
For full copy of order against IMRAN ALI, click here.
For full copy of order against MD.SEKH NAZIBULLA, click here.
For full copy of order against MOHD.SEKH ABDUL ROBIAL, click here.
For full copy of order against NABINA JAHAN, click here.
For full copy of order against ROHIT DAS, click here.
For full copy of order against SUMANTRA SINHA, click here.
For full copy of order against SUNIRMAL GOSWAMI, click here.
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