May 22, 2015
PR No. 141/2015

Interim order in the matter of Verinder Finance Limited

Shri Prashant Saran, Whole Time Member, SEBI, has passed an order dated May 20, 2015 issuing the following directions in the matter of Verinder Finance Limited:

The company namely, Verinder Finance Ltd and its promoters and directors including Ranjit Kumar Basu Mullick, Ashish Chatterjee, Indu Bhanot, Akhil Bhanot, Ramendu Chattopadhyay, Satya Ranjan Debnath,Tariq Nafees, Surinder Kumar Malhotra, Biswajit Chakarborty, Purnendu Santra, Sudhakar Panda, Verinder Bhanot, and Barun Kanti Majumder:

1. Are restrained from mobilizing funds through the issue of securities to the public, and/ or invite subscription, in any manner whatsoever, either directly or indirectly or through other companies in which they are directors/promoters, till further directions.
2. 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 or through other companies in which they are directors/promoters, till further orders.
3. Shall not dispose of any of the properties or alienate the assets of Virender Finance Ltd and shall not dispose off any of their properties or alienate their assets.
4. Shall not divert any funds raised from public at large through the issuance of the impugned compulsorily convertible preference shares, kept in its bank accounts and/or in the custody of the company without prior permission of SEBI until further orders.
5. Are restrained from accessing the securities market and are further prohibited from buying, selling or otherwise dealing in securities in any manner whatsoever, either directly or indirectly, or through other companies in which they are directors/promoters, till further directions.
6. Are directed to provide to SEBI, a full inventory of all their assets and properties and details of all their bank accounts, demat accounts and holdings of shares/securities, if held in physical form and details of companies in which the above said directors and promoters of the company hold substantial or controlling interest.

Mumbai
 
May 22, 2015

For full copy of order against AKHIL BHANOT, click here.

For full copy of order against ASHISH CHATTERJEE, click here.

For full copy of order against BARUN KANTI MAJUMDER, click here.

For full copy of order against BARUN KANTI MAJUMDER, click here.

For full copy of order against BISWAJIT CHAKARBORTY, click here.

For full copy of order against INDU BHANOT, click here.

For full copy of order against PURNENDU SANTRA, click here.

For full copy of order against RAMENDU CHATTOPADHYAY, click here.

For full copy of order against RANJIT KUMAR BASU MULLICK, click here.

For full copy of order against SATYA RANJAN DEBNATH, click here.

For full copy of order against SUDHAKAR PANDA, click here.

For full copy of order against SURINDER KUMAR MALHOTRA, click here.

For full copy of order against TARIQ NAFEES, click here.

For full copy of order against VERINDER BHANOT, click here.

For full copy of order against VERINDER FINANCE LTD., click here.