March
05, 2015
PR No. 054/2015
Order in the matter of M/s Target People Social Security Scheme 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. Target People Social Security Scheme Micro Finance Limited,
inter-alia directing as follows :
| (a) |
Target People Social Security Scheme Micro Finance Limited and its directors viz. Mr. Mariaponnusamy
Moyeeson, Mr. Joseph Johnson Savarimuthu and Mr. Arockiasamy Judi Gerald Paulraj 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. Target People Social Security Scheme Micro Finance Limited, a company having its
registered office at : 2A, St. Mark Street, Palayamkottai, Tirunelveli, Tamilnadu – 627 002, has violated the public
issue requirements specified in the Companies Act, 1956 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 AROCKIASAMY JUDI GERALD PAULRAJ, click here.
For full copy of order against JOSEPH JOHNSON SAVARIMUTHU, click here.
For full copy of order against MARIAPONNUSAMY MOYEESON, click here.
For full copy of order against TARGET PEOPLE SOCIAL SECURITY SCHEME MICRO FINANCE LTD., click here.
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