September 12, 2014
PR No. 107/2014

Order in the matter of M/s Purusattam Infotech Industries Limited

Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an order dated September 09, 2014 in the matter of Purusattam Infotech Industries Limited , 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, which are kept in bank account(s) and/or in the custody of the company.
 
The company was engaged in fund mobilizing activity through issue of Preference Shares to more than 49 person without complying with the relevant provisions of the Companies Act, 1956.

 
Mumbai

September 12, 2014

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

For full copy of order against GITA PAL, click here.

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

For full copy of order against NIRMAL MIDYA, click here.

For full copy of order against PRASENJIT PAL, click here.

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