April 16, 2015
PR No. 109/2015

Order in the matter of M/s. Mangalam Agro Products Limited

Shri Prashant Saran, Whole Time Member, SEBI has passed an order dated April 06, 2015 under SEBI Act, 1992, inter - alia directing M/s. Mangalam Agro Products 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, the Debenture Trustee viz. Mangalam Institute of Development and Research (through its Settlor viz. Mr. Madhusudhan Chatterjee) and Ms. Chandani Mohta shall not offer itself 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, they are 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 observed that the company was engaged in fund mobilizing activity through issue of Secured Non – Convertible Redeemable Debentures to more than 49 persons 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
 
April 16, 2015

For full copy of order against MANGALAM AGRO PRODUCTS LIMITED, MR. KAMOLESH KUMAR GHOSH, MR. UJJAL SIKDER, MR. TAPAN KUMAR DEY, MANGALAM INSTITUTE OF DEVELOPMENT AND RESEARCH (THROUGH ITS SETTLOR VIZ. MR. MADHUSUDHAN CHATTERJEE) and MS. CHANDANI MOHTA click here.