July 27, 2015
PR No. 191/2015

Order in the matter of M/s Siyaram Development and Construction Limited; its Directors and Debenture Trustee

Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an order dated July 17, 2015 against Siyaram Development and Construction Limited (SDCL), its Directors, Viz. Mr. Prasanta Bera, Mr.  Biraja Bera, Ms. Paromita Dey, Mr. Biswajit Roy, Mr. Arun Sardar, Mr. Aravinda Mondal, Mr. Sridhar Mukherjee, Mr. Abdul Mandal and its Debenture Trustee viz. Ms. Kalpana Guha.
 
The said order inter alia directed SDCL to cease from mobilizing any fresh funds from investors through the Offer of Secured Redeemable Debentures (SRDs) 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 Directors viz. 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 order further directed the company and its directors not to dispose of or alienate or encumber any of the assets owned/acquired by the company without prior permission from SEBI and not to divert any funds raised from public at large through SRDs which are kept in bank account(s) and/or in the custody of the company. The company was also directed to submit the full inventory of its assets, details of debenture holders, amount mobilized, debentures redeemed etc.
 
The order has prohibited Ms. Kalpana Guha from continuing the present assignment as a debenture trustee in respect of the Offer of SRDs of SDCL 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.
 
M/s Siyaram Development and Construction Limited was engaged in fund mobilizing activity from the public through Offer of SRDs 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 27, 2015

For full copy of order against ABDUL MANDAL, click here.

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

For full copy of order against ARUN SARDAR, click here.

For full copy of order against BIRAJA BERA, click here.

For full copy of order against BISWAJIT ROY, click here.

For full copy of order against KALPANA GUHA, click here.

For full copy of order against PAROMITA DEY, click here.

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

For full copy of order against SIYARAM DEVELOPMENT & CONSTRUCTION LTD., click here.

For full copy of order against SRIDHAR MUKHERJEE, click here.