September 12, 2014
PR No. 106/2014

Order in the matter of M/s Bharat Krishi Samridhi Industries Limited

Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an order dated September 05, 2014 in the matter of Bharat Krishi Samridhi industries Limited (BKSIL), inter-alia directing that the company shall not mobilize funds from investors. Further, the company 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. The company and its directors 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.
 
The Company, its directors have further been directed not to dispose off any of the properties or alienate or encumber any of the assets of the Company without prior permission of SEBI and not to divert any funds raised from public at large through the Offer of Preference Shares and through the Offer of Non-Convertible Debentures (NCDs) which are kept in bank account(s) and/or in the custody of the company.
 
Bharat Krishi Secured Debenture Trust (represented by its Trustee viz. Shri Swadesh Banerjee);Bharat Krish Secured Debenture Development Trust (represented by its Trustees viz. Shri Amit Samanta and Shri. Jagdish Chandra Nag), are prohibited from continuing with its present assignment as a debenture trustee in respect of the Offer of NCDs of BKSIL and also from taking up any new assignment or involvement in any new issue of debentures, etc. in a similar capacity, from the date of this order till further directions.
 
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 the provisions of the SEBI (Issue and Listing of Debt Securities) Regulations, 2008 and SEBI (Debenture Trustees) Regulations, 1993 and through the issue of Preference Shares to more than 49 persons without complying with the provisions of the Companies Act, 1956.

 
Mumbai

September 12, 2014

For full copy of order against AMIT SAMANTA, click here.

For full copy of order against BHARAT KRISHI SAMRIDHI INDUSTRIES LTD., click here.

For full copy of order against BHARAT KRISHI SECURED DEBENTURE DEVELOPMENT TRUST, click here.

For full copy of order against BHARAT KRISHI SECURED DEBENTURE TRUST, click here.

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

For full copy of order against GULZAR AHMED, click here.

For full copy of order against JAGDISH CHANDRA NAG, click here.

For full copy of order against PRABIR KUMAR CHATTOPADHYAY, click here.

For full copy of order against PRADIP KUMAR DAS, click here.

For full copy of order against SWADESH BANERJEE, click here.