October 20, 2015
PR No. 246/2015

Interim Order cum Show Cause Notice in the matter of M/s Shine India Infra Project Limited

Shri S Raman, Whole Time Member, SEBI has passed an interim order dated October 09 2015 in the matter of Shine India Infra Project Limited (SIIPL) under Sections 11, 11(4), 11A and 11B of the SEBI Act read with Section 19 thereof inter - alia directing,

• SIIPL shall not mobilize any fresh funds from investors through the Offer of Redeemable Preference Shares 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;
   
• SIIPL and its Directors, viz. Shri Sajahan Midya, Shri Nasiruddin SK and Shri Selim Mohammed SK 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;
   
• SIIPL 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;
   
• SIIPL shall provide a full inventory of all its assets and properties;
   
• SIIPL's abovementioned Directors shall provide a full inventory of all their assets and properties;
   
• SIIPL 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 Redeemable Preference Shares, without prior permission from SEBI;
   
• SIIPL and its abovementioned Directors shall not divert any funds raised from public at large through the Offer of Redeemable Preference Shares, which are kept in bank account(s) and/or in the custody of SIIPL;
   
• SIIPL and its abovementioned Directors shall furnish complete and relevant information in respect of the Offer of Redeemable Preference Shares within 14 days from the date of receipt of this Order.

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 20, 2015

For full copy of order against NASIRUDDIN SK, click here.

For full copy of order against SAJAHAN MIDYA, click here.

For full copy of order against SELIM MOHAMMED SK, click here.

For full copy of order against SHINE INDIA INFRA PROJECT LTD., click here.