December 02, 2014
PR No. 141/2014

Order in the matter of Prism Infracon Limited

Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an order dated November 24, 2014 in the matter of Prism Infracon Limited, inter-alia directing that the company shall not mobilize funds from investors. Further, the company and its directors (Shri Rajesh Kumar Agarwal, Shri Koushik Ghosh, Shri Navin Pratap Singh) 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, 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 from SEBI and not to divert any funds raised from public at large through the Offer of Non convertible Redeemable Debentures, which are kept in bank account(s) and/or in the custody of the company.
 
Shri Tapas Kumar Dey, Shri Hemanta Banerjee and Shri Abhishek Loharuka are prohibited from continuing with his present assignment as debenture trustees in respect of the Offer of Non-Convertible Redeemable 0Debentures of the company 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 and its above mentioned Directors, are 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 was engaged in fund mobilizing activity through issue of 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
 
December 02, 2014

For full copy of order against ABHISHEK LOHARUKA, click here.

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

For full copy of order against KOUSHIK GHOSH, click here.

For full copy of order against NAVIN PRATAP SINGH, click here.

For full copy of order against PRISM INFRACON LTD., click here.

For full copy of order against RAJESH KUMAR AGARWAL, click here.

For full copy of order against TAPAS KUMAR DEY, click here.