December 03, 2014
PR No. 142/2014

Order in the matter of M/s Vista Management Services Limited

Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an interim order dated December 1, 2014 in the matter of Vista Management Services 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 and 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 Redeemable 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 Redeemable Preference shares to more than 49 persons without complying with the relevant provisions of the Companies Act, 1956, read with Section 465 of the Companies Act, 2013.

 
Mumbai
 
December 03, 2014

For full copy of order against BIJAYA KUMAR SWAIN, click here.

For full copy of order against BIRANCHI NARAYAN MISHRA, click here.

For full copy of order against DEV KUMAR PANDA, click here.

For full copy of order against FAYAZ KHAN, click here.

For full copy of order against MANOJ KUMAR, click here.

For full copy of order against VISTA MANAGEMENT SERVICES LTD., click here.