July 07, 2015
PR No. 182/2015

Order in the matter of M/s Angel Allied India Ltd., its promoters and Directors

Shri S Raman, Whole Time Member, SEBI, has passed an order on June 29, 2015 in the matter of M/s. Angel Allied India Ltd. (AAIL), its promoters and Directors.
 
The Registered Office of the Company is situated at C/o Kartar Singh,18811, B 11, Kud Mohalla, Habib Road, Ludhiana, Punjab India-141008. The order directed the company and its Directors Shri Sekh Nazibulla, Shri Santosh Kumar Mishra , Sh Devid Haslaf , Shri Sandeep Pal and the Angel Economic Debenture Trust( represented by Trustee Shri Succhhanda Ghosh), not to collect any fresh money from investors through the offer of Non Convertible Debentures (NCDs) or through fresh issuance of equity shares or any other securities; not to issue prospectus or any offer document or issue advertisement for soliciting money from public; to immediately submit the full inventory of the assets obtained through money raised by AAIL; not to dispose of or alienate or sell off any of the properties/assets obtained directly or indirectly through money raised by AAIL; and the Angel Economic Debenture Trust( represented by Trustee Shri Succhhanda Ghosh) is prohibited from continuing the present assignment as a debenture trustee in respect of offer of Non Convertible Debentures by AAIL and also prohibited from taking any new assignment or involvement in any new issue of debentures., not to divert any fund raised from public at large which are kept in bank account(s) and/or in the custody of EIIL. They are also directed to furnish to furnish complete information within 21 days about the details of amount mobilised and refunded till date as certified by their statutory auditor, list of investors and their contact numbers and addresses , PAN numbers of the aforementioned directors and details of agents along with address, money mobilized and commission paid. 
 
The Company was engaged in fund mobilizing activity from public by offering Non-Convertible Secured Redeemable Debentures in non-compliance with the public issue norms stipulated under the provisions of the Companies Act, 1956 including Sections 56, 60 & 73 ; SEBI (ILDS) Regulations, 2008 and SEBI (Debenture Trustee) Regulations, 1993.

 
Mumbai
 
July 07, 2015

For full copy of order against ANGEL ALLIED INDIA LTD., click here.

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

For full copy of order against DEVID HASLAF, click here.

For full copy of order against SANDIP PAL, click here.

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

For full copy of order against SEKH NAZIBULLA, click here.

For full copy of order against SUCCHHANDA GHOSH, click here.