January 13, 2015
PR No. 005/2015

Order in the matter of M/s Golden Life Agro India Limited

Shri Prashant Saran, Whole Time Member, SEBI has passed an order on January 07, 2015, wherein M/s. Golden Life Agro India Limited. and its directors & promoters , inter-alia have been directed to refund the money collected by the company through issuance of Non-Convertible Redeemable Secured Debentures, with interest at the rate of 15% per annum and also not to access the capital market in any manner. They have also been restrained and prohibited from buying, selling or otherwise dealing in the securities market, from the date of this order till the expiry of four years from the date of completion of refunds to investors.
 
The Debenture Trustees, viz. Mrs. Jyotsna Sadhukhan and Mrs. Jharna Sarkar shall not offer themselves to be engaged as debenture trustees or in any capacity as an intermediary in the securities market, without to undertake that obtaining a certificate of registration assignment as required under law. Further, these individuals are restrained from accessing the securities market and are further restrained from buying, selling or dealing in securities, in any manner whatsoever, for a period of 4 years.
 
The company was engaged in fund mobilizing activity through issuance of Non-Convertible Redeemable Secured Debentures, to more than 49 persons, without complying with the relevant provisions of the Companies Act,1956, read with the Companies Act, 2013 and provisions of the SEBI (issue and Listing of Debt Securities) Regulations, 2008.
 
SEBI had passed an interim order on May 15, 2014 in the matter, whereby inter-alia, it directed the company and its promoters/directors not to collect any more money from investors through issuance of securities in any manner whatsoever.

Mumbai
 
January 13, 2015

For full copy of order against GOLDEN LIFE AGRO INDIA LIMITED, MR.TIPU SULTAN, MR.BISWANATH MONDAL, MR.SUBHAS SARKAR, MR.NIRJAL PAL, MR.SWAPAN SADHUKHAN, MR.CHANDAN DEBNATH, MR.UTTAM CHAKRABORTY, MRS.JYOTSNA SADHUKHAN and MRS.JHARNA SARKAR click here.