PRESS RELEASE - SEBI

June 04, 2015
PR No. 148/2015

Show Cause Notice cum Interim Order in the matter of Neesa Technologies Limited

Shri S. Raman, Whole Time Member, SEBI has passed an order dated June 03, 2015 in the matter of Neesa Technologies Limited (the company) having its registered office at 9th Floor, Cambay Grand, Behind PERD Centre, Near Sola Over Bridge, Thaltej, Ahmedabad–380054 (Gujarat). The order inter alia directed as under :

  • The company shall forthwith cease to mobilize funds from investors through the Offer of Non–Convertible Debentures (NCDs) or through the issuance of equity shares or any other securities, to the public and/or invite subscription, in any manner whatsoever, either directly or indirectly till further directions.
     
  • Further the company, its present directors namely Shri Arvind Gupta, Shri YogeshGhisumalGemawat, Shri GirishchandraMukundramBaluni, Shri Sanjay Gupta, Shri Kamlendra Joshi, Shri ManojSinghal, Shri Suresh Kumar and its past director, viz. Shri NimainCharanBiswal, 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. 
     
  • The company and its abovementioned past and present directors, are restrained from accessing the securities market and prohibited from buying, selling or otherwise dealing in the securities market, either directly or indirectly, till further directions. Further, they have been directed to provide a full inventory of all its assets and properties.
     
  • The company and its abovementioned present Directors shall not dispose of any of the properties or alienate or encumber any of the assets owned/acquired by that company through the Offer of NCDs, without prior permission from SEBI. Further, they have been directed not to divert any funds raised from public at large through the Offer of NCDs, which are kept in bank account(s) and/or in the custody of the company and furnish complete and relevant information as sought by SEBI, within 14 days from the date of receipt of the Order.

The company was prima facie engaged in fund mobilizing activity through the Offer of NCDsto more than 49 persons without complying with the relevant provisions of the Companies Act, 1956 and SEBI (Issue and Listing of Debt Securities), Regulations, 2008.

Mumbai
 
June 04, 2015

 

For full copy of order against ARVIND KUMAR GUPTA, click here.

For full copy of order against GIRISHCHANDRA MUKUNDRAM BALUNI, click here.

For full copy of order against KAMLENDRA CHUNILAL JOSHI, click here.

For full copy of order against MANOJ KUMAR SINGHAL, click here.

For full copy of order against NEESA TECHNOLOGIES LTD., click here.

For full copy of order against NIMAIN CHARAN BISWAL, click here.

For full copy of order against SANJAY GUPTA, click here.

For full copy of order against SURESH KUMAR, click here.

For full copy of order against YOGESH GHISUMAL GEMAWAT, click here.