March 24, 2015
PR No. 083/2015

Interim Order in the matter of Sunshine Hi-Tech Infracon Limited

Shri Prashant Saran, Whole Time Member, SEBI has passed an order dated March 17, 2015 under the SEBI Act, 1992 read with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and the SEBI (Debenture Trustee) Regulations, 1993 in the matter of Sunshine Hi-Tech Infracon Limited (the company) having its registered office at 402, Unique Tower, Opp. Hotel Surya, Sayajigunj, Vadodara-390 005 (Gujarat). The company and its directors namely Mr. Ramesh Chandra Nayak, Mr. Parmanad Prajapat, Mr. Dinesh Nayak, Mr. Rakesh Arya, Mr. Dinesh Bhuriya and Mr. Deepak Kumar Gehlot, are restrained from mobilizing funds through the issue of Optionally Convertible Unsecured Debentures or through the issuance of equity shares or through any other form of securities, to the public and/ or invite subscription, in any manner whatsoever, either directly or indirectly till further directions.
 
Further the company and its above mentioned directors are prohibited 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 orders. They are also restrained from accessing the securities market and further prohibited from buying, selling or otherwise dealing in securities in any manner whatsoever, either directly or indirectly, till further directions. 
 
The company and its promoters and directors have to provide a full inventory of all their assets and properties and details of all their bank accounts, demat accounts and holding of shares/securities. Further, they have been directed not to dispose of 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 offer of Optionally Convertible Unsecured debentures, kept in its bank accounts and/or in the custody of the company without prior permission of SEBI until further orders.
 
The company was engaged in fund mobilizing activity through issue of Optionally Convertible debentures to more than 49 persons without complying with the relevant provisions of the Companies Act, 1956 and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.
 
Further, Debenture Trustee of the company Guru Krupa Trustee Company Private Ltd. is prohibited from continuing with its present assignment as debenture trustee in respect of the issue of optionally convertible debentures of the  Company and also from taking up any new assignment or involvement in any new issue of debentures, etc. in a similar capacity, from the date of this order till further directions.

Mumbai
 
March 24, 2015

For full copy of order against DEEPAK KUMAR GEHLOT, click here.

For full copy of order against DINESH BHURIYA, click here.

For full copy of order against DINESH NAYAK, click here.

For full copy of order against GURU KRUPA TRUSTEE CO.PVT.LTD., click here.

For full copy of order against PARMANAD PRAJAPAT, click here.

For full copy of order against RAKESH ARYA, click here.

For full copy of order against RAMESH CHANDRA NAYAK, click here.

For full copy of order against SUNSHINE HI-TECH INFRACON LTD., click here.