February 13, 2015
PR No. 038/2015

Order in the matter of M/s. Adamant Infrastructures Limited

Shri S. Raman, Whole Time Member, SEBI, has passed an interim order dated February 11, 2015 under sections 11, 11(4), 11A and 11B of SEBI Act, 1992 in the matter of Adamant Infrastructures 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 of 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 Non Convertible Redeemable Secured Debentures(NCDs), which are kept in bank account(s) and/or in the custody of the company.
 
Also, Debenture Trustee, viz. Adamant Debenture Trust (represented by its trustee viz. Smt.Sushmita Sinha) is prohibited from continuing with his present assignment as debenture trustee in respect of the offer 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 13, 2015

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

For full copy of order against ADAMANT INFRASTRUCTURES LTD., click here.

For full copy of order against ANAND MOHAN, click here.

For full copy of order against INDRAJIT KUMAR SHARMA, click here.

For full copy of order against JITENDRA KUMAR SHARMA, click here.

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