July 29, 2015
PR No. 196/2015

Order in the matter of M/s Weird Infrastructure Corporation Limited

Shri Prashant Saran, Whole Time Member, SEBI has passed an order on July 24, 2015, wherein M/s. Weird Infrastructure Corporation Limited. and its directors & promoters , inter-alia have been directed to refund the money collected by the company through issuance of Secured Non-Convertible Redeemable Debentures, with interest at the rate of 15% per annum compounded annually and also not to access the capital market in any manner. They have also been restrained and prohibited from buying, selling or otherwise dealing in the securities market, from the date of this order till the expiry of four years from the date of completion of refunds to investors.
 
The former Debenture Trustee, viz. Mr. Harish Chandra shall not offer themselves to be engaged as debenture trustees or in any capacity as an intermediary in the securities market, without to undertake that obtaining a certificate of registration assignment as required under law. Further, Mr. Harish Chandra is restrained from accessing the securities market and are further restrained from buying, selling or dealing in securities, in any manner whatsoever, for a period of 4 years.
 
The company was engaged in fund mobilizing activity through issuance of Secured Non-Convertible 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.
 
SEBI had passed an interim order on September 24, 2014 in the matter, whereby inter-alia, it directed the company and its promoters/directors not to collect any more money from investors through issuance of securities in any manner whatsoever.
 
The present order dated July 24, 2015 brings to conclusion the above said proceedings with the aforesaid directions.

Mumbai
 
July 27, 2015

For full copy of order against WEIRD INFRASTRUCTURE CORPORATION LIMITED, MR. SANJAY KUMAR DAS, MR. GOPAL DALAPATI, MR. CHAND MOHAN GHOSH, MR. AVIJIT CHATTERJEE, MR. BAJRANG LAL BOHARA, MR. JADUNATH JENA, MR. BHABAGRAHI BEHERA AND MR. HARISH CHANDRA. click here.