March 20, 2015
PR No. 068/2015

Order in the matter of M/s GSHP Realtech Limited

Shri Prashant Saran, Whole Time Member, SEBI has passed an order on March 18, 2015, wherein M/s. GSHP Realtech Limited. and its directors & promoters , inter-alia have been directed to refund the money collected by the company through issuance of Secured Non-Convertible Redeemable Debentures, with interest at the rate of 15% per annum at half yearly intervals and also not to access the capital market in any manner. They have also been restrained and prohibited from buying, selling or otherwise dealing in the securities market, from the date of this order till the expiry of four years from the date of completion of refunds to investors.
 
The Debenture Trustee, viz. M/s GSHP Welfare and Development Trust shall not offer itself to be engaged as debenture trustees or in any capacity as an intermediary in the securities market, without obtaining a certificate of registration assignment as required under law. Further, GSHP Welfare and Development Trust is restrained from accessing the securities market and are further restrained from buying, selling or dealing in securities, in any manner whatsoever, for a period of 4 years.
 
The company was engaged in fund mobilizing activity through issuance of Secured Non-Convertible Redeemable Debentures, to more than 49 persons, without complying with the relevant provisions of the Companies Act,1956 and provisions of the SEBI (issue and Listing of Debt Securities) Regulations, 2008. 
 
SEBI had passed an interim order on May 15, 2014 in the matter, whereby inter-alia, it directed the company and its promoters/directors not to collect any more money from investors through issuance of securities in any manner whatsoever.
 
The present order dated March 18, 2015 brings to conclusion the above said proceedings with the aforesaid directions.

Mumbai
 
March 20, 2015

For full copy of order against GSHP REALTECH LIMITED, MR. SANJAY KUMAR SRIVASTAVA, MR. ARUN KUMAR SINGH, MR. DHARAMPAL KUMAR RAWAT, MR. MAHESH KUMAR SINGH, MR. RAJ KUMAR MONDAL AND GSHP WELFARE AND DEVELOPMENT TRUST click here.