February 02, 2015
PR No. 025/2015

Order in the matter of M/s Vikdas Industries Limited

Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an interim order dated January 29, 2015 in the matter of Vikdas 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 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 Secured Non–Convertible Redeemable Debentures (NCDs), which are kept in bank account(s) and/or in the custody of the company.
 
Also, Debenture Trustee viz. Vikdas Industries Debenture Trust (represented by its Trustee, viz. Shri Ranadeb De) is prohibited from continuing with his present assignment as debenture trustee in respect of the issue of NCDs 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 was engaged in fund mobilizing activity through issue of NCDs to more than 49 persons without complying with the relevant provisions of the Companies Act, 1956, read with SEBI (Issue and Listing of Debt Securities) Regulations, 2008.

Mumbai
February 02, 2015

For full copy of order against BHABAGRAHI BEHERA, click here.

For full copy of order against DEBASISH DAS, click here.

For full copy of order against GOUTAM CHATTERJEE, click here.

For full copy of order against INDRANIL SINHA, click here.

For full copy of order against JADUNATH JENA, click here.

For full copy of order against RAMEN CHATTERJEE, click here.

For full copy of order against RANADEB DE, click here.

For full copy of order against SACHIN KUMAR THAKUR, click here.

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

For full copy of order against VIKDAS INDUSTRIES DEBENTURE TRUST, click here.

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