March 16, 2015
PR No. 059/2015

Order in the matter of M/s. Promotech Infratech Limited (PIL)

Shri Prashant Saran, Whole Time Member, SEBI has passed an order dated March 05, 2015, inter - alia directing M/s. Promotech Infratech Limited and its Directors – to refund the money collected by the Company, not to access the capital market, restrained and prohibited from buying, selling or otherwise dealing in the securities market and restrained from associating themselves, as a director or a promoter, with any listed public company and any public company which intends to raise money from the public, from the date of this Order till expiry of 4 years from the date of completion of refunds to investors as directed above.
 
Also, Debenture Trustees Mr. Pulak Roy shall not offer himself to be engaged as a debenture trustee or in any capacity as an intermediary in the securities market, without obtaining a certificate of registration to undertake that assignment as required under law. Further, Mr. Pulak Roy is restrained from accessing the securities market and further restrained from buying, selling or dealing in securities, in any manner whatsoever, for a period of 4 years.
 
It is alleged that the company was engaged in fund mobilizing activity through issue of Secured Non – Convertible Redeemable Debentures to more than 49 person without complying with the provisions of the Companies Act, 1956 including Sections 56, 60, 73 etc and provisions of the SEBI Issue and Listing of Debt Securities Regulations 2008.

Mumbai
 
March 16, 2015

For full copy of order against PROMOTECH INFRATECH LIMITED, MR. ANUKUL MAITI, SMT. KANIKA MAITI, MR. SWAPAN ROY, MR. SAMAR MUSTAFI, MR. ATANU HALDER AND MR. PULAK ROY click here.