February 13, 2015
PR No. 041/2015

Order in the matter of M/s. Shah Group Builders Limited

Shri Prashant Saran, Whole Time Member, SEBI, has passed an order dated February 12, 2015 under sections 11(1), 11(4), 11A, and 11B of SEBI Act, 1992 in the matter of M/s. Shah Group Builders Limited, inter-alia, prohibiting the company, its directors and promoters 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 directions. The Company, its directors and promoters have further been directed not to dispose off any of the properties or alienate the assets of the Company or dispose off any of their properties or alienate their assets and not to divert any funds raised from public at large through the issuance of the impugned equity shares, kept in its bank accounts and/or in the custody of the company without prior permission of SEBI, until further orders. The Company, its directors and promoters have also been restrained from accessing the securities market and are further prohibited from buying, selling or otherwise dealing in securities in any manner whatsoever, either directly or indirectly, till further directions.
 
The company was engaged in fund mobilizing activity through issue of Equity Shares to more than 49 persons without complying with the provisions of the Companies Act, 1956.

Mumbai
February 13, 2015

For full copy of order against NALIN VIRJI SHAH, click here.

For full copy of order against NEELAM NALIN SHAH, click here.

For full copy of order against NIRAV NALIN SHAH, click here.

For full copy of order against SHAH GROUP BUILDERS LTD., click here.