October 09, 2015
PR No. 241/2015
Interim Order in the matter of M/s Rahul Hi Rise Limited
Shri S Raman, Whole Time Member, SEBI has passed an interim order dated October 01 2015 in the matter of
Rahul Hi Rise Limited (RHRL) under the SEBI Act read with SEBI (Issue and Listing of Debt Securities),
Regulations, 2008 inter - alia directing,
- RHRL shall forthwith cease to mobilize fresh funds from investors through the Offer of NCDs 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;
- RHRL and its Directors, viz. Shri Abhijit Majumdar, Shri Dipankar Gupta (DIN: 02408609) and Shri Mrinmoy
Bose, 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;
- RHRL and its abovementioned 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;
- RHRL shall provide a full inventory of all its assets and properties;
- RHRL's abovementioned Directors shall provide a full inventory of all their assets and properties;
- RHRL and its abovementioned Directors shall not dispose of any of the properties or alienate or encumber
any of the assets owned/acquired by that company through the Offer of NCDs, without prior permission from
SEBI;
- RHRL and its abovementioned Directors shall not divert any funds raised from public at large through the
Offer of NCDs, which are kept in bank account(s) and/or in the custody of
RHRL;
- RHRL and its abovementioned Directors shall co-operate with SEBI and shall furnish all
information/documents sought vide letters dated May 23, 2014, May 26, 2014 and June 4, 2014;
- The Debenture Trustees, viz. Shri Dinendra Nath Bandopadhyay and Well Being Trust (represented by Shri
Chapal Biswas and Shri Dinendra Nath Bandopadhyay), are prohibited from continuing with their assignment
as debenture trustee in respect of the Offer of NCDs of RHRL 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 was engaged in fund mobilizing activity from the public through offer of NCDs 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
October 09, 2015
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For full copy of order against ABHIJIT MAJUMDAR, click here.
For full copy of order against CHAPAL BISWAS, click here.
For full copy of order against DINENDRA NATH BANDOPADHYAY, click here.
For full copy of order against DIPANKAR GUPTA, click here.
For full copy of order against MRINMOY BOSE, click here.
For full copy of order against RAHUL HI RISE LTD., click here.
For full copy of order against WELL BEING TRUST, click here.
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