June 19, 2015
PR No. 160/2015

Order in the matter of M/s Gitanjali Udyog Limited

Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an order dated June 17, 2015 in the matter of Gitanjali Udyog Limited, inter-alia directing that the company shall not mobilize funds from investors. Further, the company and its present and past 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.
 
The Company and its present directors have further been directed not to dispose off any of the properties or alienate or encumber any of the assets of the Company without prior permission from SEBI and not to divert any funds raised from public at large through the Offer of Non-Convertible Secured Redeemable Debenture, which are kept in bank account(s) and/or in the custody of the company.
 
The Debenture Trustees, viz. Shri Amit Samanta and Shri Jagdish Chandra Nag are prohibited from continuing with his present assignment as debenture trustees in respect of the Offer of Non-Convertible Secured Redeemable Debenture 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.
 
The company and its present and past 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, till further directions.
 
The company was engaged in fund mobilizing activity through issue of Non-convertible Secured Redeemable Debentures 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
 
June 19, 2015

For full copy of order against AMIT SAMANTA, click here.

For full copy of order against ANIL KUMAR MISHRA, click here.

For full copy of order against GITANJALI UDYOG LTD., click here.

For full copy of order against JAGDISH CHANDRA NAG, click here.

For full copy of order against NONIGOPAL MONDAL, click here.

For full copy of order against PARAMASISH BHADURY, click here.

For full copy of order against PRABIR MIDDEY, click here.

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

For full copy of order against SURAJEET RAY, click here.

For full copy of order against SUTANU SARCAR, click here.