June 26, 2015
PR No. 170/2015

Interim Order cum Show Cause Notice in the matter of Active Rural Development India Limited

Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI) has prima-facie found that Active Rural Development India Limited ("Company") having its registered office at Sachin Vishwakarma, House No. 290, Satna Building, Malviya Chowk, Jabalpur, Madhya Pradesh-482002, India has been illegally raising money from public and accordingly passed an interim order dated June 25, 2015 against the company and its directors Shri Dilip Kumar Diwakar, Shri Polaki Umashankar Rao, Shri Ganesh Kumar Singh, Ms Vandana Saha alongwith its Debenture Trustees, viz Abhinash Kumar Jha and Shri Jagdish Kumar Singh.

The Order, inter-alia directs as under:

The company shall forthwith cease to mobilize any fresh funds from investors through the Offer of Non–Convertible Redeemable Secured 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.

• The company and its past and present 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 past and present 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 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 NCDs without prior permission from SEBI.
• The company and its present/past directors shall not 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.
• The Debenture Trustees, viz. Active Debenture Trust (represented by its Trustees, viz. Shri Abhinash Kumar Jha and Shri Jagdish Kumar Singh) are prohibited from continuing with their present assignment as debenture trustees in respect of the Offer of NCDs 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 from the public through Offer of NCDs 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 26, 2015

For full copy of order against ABHINASH KUMAR JHA, click here.

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

For full copy of order against ACTIVE RURAL DEVELOPMENT INDIA LTD., click here.

For full copy of order against DILIP KUMAR DIWAKAR, click here.

For full copy of order against GANESH KUMAR SINGH, click here.

For full copy of order against JAGDISH KUMAR SINGH, click here.

For full copy of order against POLAKI UMASHANKAR RAO, click here.

For full copy of order against VANDANA SAHA, click here.