July 20, 2015
PR No. 187/2015

Order in the matter of M/s Swasata Steel Industries Limited

Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an order dated July 17, 2015 in the matter of Swasata Steel Industries Limited, inter-alia directing that the company shall not mobilize funds from investors. Further, the company, 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 of 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 Secured Non- Convertible Debenture, which are kept in bank account(s) and/or in the custody of the company.
 
The Debenture Trustees, viz. Swasata Debenture Trust (represented by Shri Abanimohan Chatterjee), is prohibited from continuing with his present assignment as debenture trustees in respect of the Offer of Secured Non-Convertible 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, 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 Secured Non-convertible 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
 
July 20, 2015

For full copy of order against ABANIMOHAN CHATTERJEE, click here.

For full copy of order against AVIJIT CHAKRABORTY, click here.

For full copy of order against CHATTA RANJAN CHAUDHURI, click here.

For full copy of order against JOYDEB BISWAS, click here.

For full copy of order against MANAS KUMAR DAN, click here.

For full copy of order against PRASANTA CHATTERJEE, click here.

For full copy of order against SATYA RANJAN CHAUDHARI, click here.

For full copy of order against SWAPNA CHAUDHURI, click here.

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

For full copy of order against SWASATA STEEL INDUSTRIES LTD., click here.