March
05, 2015
PR No. 053/2015
Order in the matter of M/s Fishermen Development Micro Finance Limited
Shri Rajeev Kumar Agarwal, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an
order dated March 4th, 2015 in the matter of M/s. Fishermen Development Micro Finance Limited,
inter-alia directing as follows :-
| (a) |
Fishermen Development Micro Finance Limited and its directors viz. Mr. Mariadasan Ubald, Mr. Loorduswamy
Michaelangelus, Mr. Anthony Pillai Kildos and Mr. Peter Remigius are jointly and severally directed to
refund the money collected pursuant to the allotments of shares to the allottees along with interest at the rate of 15% per
annum, through a Demand Draft or Pay Order, from the date of receipt of money till the date of such refund.; |
| (b) |
The company is directed to issue a public notice in Newspapers detailing the modalities for refund. |
| (c) |
The company is directed to file a certificate of such completion with SEBI from two independent peer reviewed
Chartered Accountants within seven days of completion of refund; |
| (d) |
The company and its aforesaid Directors are directed not to, directly or indirectly, access the capital market by
issuing prospectus, any offer document or advertisement soliciting money from the public and are further restrained
and prohibited from buying, selling or otherwise dealing in the securities market, directly or indirectly in whatsoever
manner till the refund of the money is made to the allottees; and |
| (e) |
The aforesaid directors of the company are restrained from associating themselves, with any listed public
company and any public company which intends to raise money from the public, till the refund of the money is made
to the allottees. |
It was found that M/s. Fishermen Development Micro Finance Limited, a company having its registered office at :
Coastal Communities Training Centre, Caritas Tower, Bishop’s House, Nagercoil, Tamilnadu - 629 001, has
violated the public issue requirements specified in the Companies Act, 1956, Companies Act, 2013 and SEBI (Issue
of Capital and Disclosure Requirements) Regulations, 2009 in their equity share issuances.
Mumbai
March 05, 2015 |
For full copy of order against ANTHONY PILLAI KILDOS, click here.
For full copy of order against FISHERMEN DEVELOPMENT MICRO FINANCE LTD., click here.
For full copy of order against LOORDUSWAMY MICHAELANGELUS, click here.
For full copy of order against MARIADASAN UBALD, click here.
For full copy of order against PETER REMIGIUS, click here.
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