PRESS RELEASE - SEBI

May 19, 2017
PR No. 028/2017


Order in the matter of ESBI Infrastructure Company Ltd.

SEBI has passed an interim order dated May 12, 2017 against ESBI Infrastructure Company Ltd. and its Directors/Promoters, viz. Mr. Biswajit Paul, Mr. Subrata Kumar Paul, Mr. Sarbaniprasad Bishwas, Mr. Amitava Basu, Mr. Biswanath Roy, Mr. Jayanta Basu, Mr. Tapas Basu, Mr. Jeniya Basu and Mr. Saikat Sen,under Sections 11(1), 11(4), 11A(1)(b) and 11B read with Section 19of the SEBI Act, inter - alia directing:

  1. ESBI Infrastructure Company Ltd. and its directors viz. Mr. Biswajit Paul, Mr. Subrata Kumar Paul, Mr. Sarbaniprasad Bishwas, Mr. Amitava Basu and Mr. Biswanath Roy, and promoters including Mr. Jayanta Basu, Mr. Tapas Basu, Mr. Jeniya Basu and Mr. Saikat Sen are restrained from mobilizing funds through the issue of equity shares or through any otherform of securities, to the public and/ or invite subscription, in any manner whatsoever, either directly or indirectly till further directions.
     
  2. ESBI Infrastructure Company Ltd. and its aforementioned promoters and directors 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. ESBI Infrastructure Company Ltd. and its aforementioned promoters and directors are restrained from accessing the securities market and are further prohibited from buying, selling or otherwise dealing in securities in any manner whatsoever, either directly or indirectly, till further directions.
     
  4. ESBI Infrastructure Company Ltd. and its aforementioned promoters and directors shall not divert any funds raised from public at large through the issuance of equity shares, kept in its bank accounts and/or in the custody of the Company without prior permission of SEBI until further orders.
     
  5. ESBI Infrastructure Company Ltd. and its abovementioned promoters and 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 equity Shares, without prior permission from SEBI;
     
  6. ESBI Infrastructure Company Ltd. and its directors and promoters shall provide a full inventory of all its assets and properties and details of all their bank accounts, demat accounts and holdings of shares/ securities, if held in physical form.
     
  7. ESBI Infrastructure Company Ltd. and its promoter and directors shall co-operate with SEBI and shall furnish all the documents in respect of the offer of equity shares (as sought by SEBI vide letter dated January 27, 2016).

It is observed that the company was engaged in fund mobilizing activity through issue of equity shares to more than 49 persons without complying with the provisions of the Companies Act, 1956.

 

 

For full copy of order against AMITAVA BASU, click here.

For full copy of order against BISWAJIT PAUL, click here.

For full copy of order against BISWANATH ROY, click here.

For full copy of order against ESBI INFRASTRUCTURE CO.LTD., click here.

For full copy of order against JAYANTA BASU, click here.

For full copy of order against JENIYA BASU, click here.

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

For full copy of order against SARBANIPRASAD BISHWAS, click here.

For full copy of order against SUBRATA KUMAR PAUL, click here.

For full copy of order against TAPAS BASU, click here.