October 19, 2015
PR No. 244/2015

Order in the matter of M/s Vaastav ALR International Limited

Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an order dated October 09, 2015 in the matter of Vaastav ALR International Limited, inter-alia directing that the company shall not mobilize funds from investors. Further, the company, its 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 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 Non – Convertible Secured Redeemable Debentures, which are kept in bank account(s) and/or in the custody of the company.
 
The Debenture Trustees, viz. Vaastav Debenture Trust (represented by Shri Chinmoy Ghatak) is prohibited from continuing with his present assignment as debenture trustees in respect of the Offer of Non – Convertible Secured Redeemable Debentures 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 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 Non - Convertible Secured 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.

Mumbai
 
October 19, 2015

For full copy of order against ANUP KUMAR MAITI, click here.

For full copy of order against ATISH SAMANTA RAY, click here.

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

For full copy of order against CHINMOY GHATAK, click here.

For full copy of order against DIBYENDU SEKHAR MAITY, click here.

For full copy of order against DILIP JANA, click here.

For full copy of order against NETAI PRAMANIK, click here.

For full copy of order against SHILAJIT GHOSH, click here.

For full copy of order against VAASTAV ALR INTERNATIONAL LTD., click here.

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