PRESS RELEASE - SEBI

May 28, 2015
PR No. 142/2015

Interim order in the matter of Dolphin Universal Rural Development Limited

Shri S Raman, Whole Time Member, SEBI, has passed an order dated May 27, 2015 in the matter of Dolphin
Universal Rural Development Limited, inter-alia issuing following directions –

  • The company shall forthwith cease to mobilize any fresh funds from investors
  • The company and its present/past directors namely, Shri Subham Bose, Shri Anindyo Paul, Shri Koushik Dutta,Shri Debraj Mitra, Shri Saugata Basu, Shri Rana Sikdar, 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.
  • The company and its aforementioned directors, are restrained from accessing the securities market and further prohibited from buying, selling or otherwise dealing in the securities market, either directly or indirectly. The company and its aforementioned directors shall not dispose off any of the properties or alienate or encumber any of the assets owned/acquired by the company through the offer of NCRDs. 
  • The company and its aforementioned directors shall not divert any funds raised from public at large through the Offer of Non Convertible Redeemable Secured Debenture ("NCRSDs"), which are kept in bank account(s) and/or in the custody of the company.
  • The Debenture Trustee, viz. Dolphin Debenture Trust (represented by its trustee viz. Shri Sumit Jana) is prohibited from continuing with his present assignment as debenture trustee in respect of the Offer of NCRSDs of the company and also from taking up any new assignment or involvement in any new issue of debentures, etc. in a similar capacity.

The company was engaged in fund mobilizing activity through issue of NCRSDs 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.

Mumbai
 
May 28, 2015

 

For full copy of order against ANINDYO PAUL, click here.

For full copy of order against DEBRAJ MITRA, click here.

For full copy of order against DOLPHIN DEBENTURE TRUST, click here.

For full copy of order against DOLPHIN UNIVERSAL RURAL DEVELOPMENT LTD., click here.

For full copy of order against KOUSHIK DUTTA, click here.

For full copy of order against RANA SIKDAR, click here.

For full copy of order against SAUGATA BASU, click here.

For full copy of order against SUBHAM BOSE, click here.

For full copy of order against SUMIT JANA, click here.