July 31, 2014
PR No. 076A/2014

Order in the matter of PAFL Industries limited

Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an order dated July 31, 2014 in the matter of PAFL Industries Limited, Kolkata directing inter-alia that the company shall not mobilize funds from investors through the issue of Redeemable Preference Shares(RPS) 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.
 
Further, PAFL and its 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.
 
Furthermore, PAFL and its Directors have further been directed not to dispose of any of the properties or alienate or encumber any of the assets owned/acquired by that company through the issue of RPS, without prior permission from SEBI.
 
The company was engaged in fund mobilizing activity through issue of Redeemable Preference Shares to around 1400 persons raising Rs 2.1 Cr. without complying with the provisions of the Companies Act, 1956.

Mumbai
July 31, 2014

For full copy of order against ABDUL MALEK, click here.

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

For full copy of order against KRISHNA DAKUYA, click here.

For full copy of order against MABUD HOSSAIN, click here.

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

For full copy of order against PAFL INDUSTRIES LTD., click here.

For full copy of order against REJAUL SEIKH, click here.

For full copy of order against SANJOY BISWAS, click here.

For full copy of order against SANKAR SAHA, click here.

For full copy of order against SATYA CHARAN MONDAL, click here.

For full copy of order against SUDIP BALA, click here.