PRESS RELEASE - SEBI

May 20, 2014
PR No. 046/2014


Order in the matter of Idol India Infrastructures Limited

Shri Prashant Saran, Whole Time Member, SEBI, has passed an order dated May 19, 2014 under sections 11(1), 11(4), 11A(1)(b) and 11B of the SEBI Act, 1992 in the matter of Idol India Infrastructures Limited, directing inter-alia that the company and its promoters directors shall refund the money collected by them through the issuance of nonconvertible debentures, with returns that were promised by the company to its investors. The company has also been restrained from accessing the securities market for the purposes of raising funds with immediate effect and the restraint shall continue be in force for a further period of two years on completion of the repayments (to its investors), made to the satisfaction of SEBI.
 
Further, the company's promoter directors are also restrained from accessing the securities market and are further prohibited from buying, selling or otherwise dealing in securities or associating themselves with any listed public
company.
 
The company was engaged in fund mobilizing activity through issue of Secured Non-Convertible Redeemable Debentures to more than 49 person without complying with the relevant provisions of the Companies Act, 1956 and
provisions of the SEBI (Issue and listing of Debt Securities) Regulations, 2008.
 
  
Mumbai
 
May 20, 2014


For full copy of order against AINDRILLA MAJUMDER, click here.

For full copy of order against BAPI MAJUMDER, click here.

For full copy of order against BAPPADITYA MAJUMDER, click here.

For full copy of order against IDOL INDIA INFRASTRUCTURES LTD., click here.

For full copy of order against KANCHAN DAS, click here.

For full copy of order against PINTU SARKAR, click here.

For full copy of order against RUMPA SARKAR, click here.

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