December 10, 2014
PR No. 161/2014

Order in the matter of M/s Midas Touch Assets and Securities Limited

Shri Prashant Saran, Whole Time Member, SEBI, has passed an interim order dated December 09, 2014 in the matter of M/s Midas Touch Assets and Securities 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 the assets of the Company and not to divert any funds raised from public at large through the offer of Cumulative Redeemable Preference shares, which are kept in bank account(s) and/or in the custody of the company without prior permission of SEBI until further orders. The company and its directors have also been directed to co-operate with SEBI and shall furnish documents, as required by SEBI and provide a full inventory of all their assets and properties and details of all their bank accounts, demat accounts and holdings of shares/securities, if held in physical form.
 
The company was engaged in fund mobilizing activity through issue of Cumulative Redeemable Preference shares to more than 49 persons without complying with the relevant provisions of the Companies Act, 1956.

 
Mumbai
 
December 10, 2014

For full copy of order against DEBASIS PRASAD MISHRA, click here.

For full copy of order against MIDAS TOUCH ASSETS & SECURITIES LTD., click here.

For full copy of order against NIRUPAMA SAMAL (AKA: NIRUPAMA THATOI), click here.

For full copy of order against SOUBHAGYA KUMAR SAMAL, click here.

For full copy of order against SWARNA LATA SAMAL, click here.

For full copy of order against SWETANSHU SHEKHAR SAMAL, click here.