August 03, 2015
PR No. 200/2015

Interim Order cum Show Cause Notice in the matter of Kerala Housing Finance Limited

Shri Prashant Saran, Whole Time Member, Securities and Exchange Board of India (SEBI) has prima-facie found that Kerala Housing Finance Limited ("Company") having its registered office at IInd Floor, Africa Plaza, Pulimood Junction, Thiruvananthapuram 695001, Kerala, India has been illegally raising money from public through issuance of equity shares and accordingly passed an interim order dated July 31, 2015 against the company its directors and promoters Mr.G.Unnikrishnan Nair, Mr. N. Krishnan Nair, Smt. KomalaUnnikrishnan, Mr.G.Sureshkumar, Mr.P.Parameshwaran, Mr. B Ajithkumar, Mr.Shajan P.G, Mr. R. Sukumaran, Adv. B Manmadhan, and Mr. S. Sureshkumar. The Order, inter-alia directs as under:

The company, its directors and promoters are restrained from mobilizing funds through the issue of equity shares or through any other form of securities, to the public and/ or invite subscription, in any manner whatsoever, either directly or indirectly till further directions.

• The above Company, its promoters and 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, its promoters and directors shall not dispose of any of the properties or alienate the assets of the Company or dispose off any of their properties or alienate their assets
• The Company, its promoters and directors shall not divert any funds raised from public at large through the issuance of the impugned Equity shares, kept in its bank accounts and/or in the custody of the company without prior permission of SEBI until further orders
• The Company, its promoters and directors are restrained from accessing the securities market and are further prohibited from buying, selling or otherwise dealing in securities in any manner whatsoever, either directly or indirectly, till further directions.
• The Company, its promoter and directors shall co-operate with SEBI and shall furnish documents, as required by SEBI
• The Company, its promoters and directors are also directed to provide a full inventory of all their assets and properties and details of all their bank accounts, demat accounts and holdings of shares/securities, if held in physical form.

The company was engaged in fund mobilizing activity from the public through Offer of equity shares without complying with the relevant provisions of the Companies Act, 1956 and provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

 
Mumbai
 
August 03, 2015

For full copy of order against B.AJITHKUMAR, click here.

For full copy of order against B.MANMADHAN, click here.

For full copy of order against G.UNNIKRISHNAN NAIR, click here.

For full copy of order against KOMALA UNNIKRISHNAN, click here.

For full copy of order against N.KRISHNAN NAIR, click here.

For full copy of order against P.PARAMESHWARAN, click here.

For full copy of order against R.SUKUMARAN, click here.

For full copy of order against S.SURESHKUMAR, click here.

For full copy of order against SHAJAN P.G., click here.

For full copy of order against SURESHKUMAR GANGADHARAN PILLAI, click here.