November 24, 2015
PR No. 271/2015

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

Shri S.Raman, Whole Time Member, Securities and Exchange Board of India (SEBI) has prima-facie found that Kerala Housing Finance Limited (KHFL/"Company") having its registered office at 2nd Floor, African Plaza, Pulimood Junction, Thiruvananthapuram 695001, Kerala, India has been illegally raising money from public through issuance of Non Convertible Debentures and Preference shares and accordingly passed an interim order on November 20, 2015 against the company its directors and promoters,viz, Shri G. Unnikrishnan Nair, Shri N. Krishnan Nair, Smt. Komala Unnikrishnan, Shri G. Sureshkumar, Shri P. Parameshwaran, Shri B Ajithkumar, Shri Shajan P. G. , Shri R. Sukumaran, Shri S. Sureshkumar and Adv. B Manmadhan, along with its debenture trustees, Shri K Jayaprasad, Adv. Shri K. Radhakrishnan, Shri Jose Philip, Shri V. Ayyappan Nair, and M/s Bittu Abraham & Associates. The Order, inter-alia directs as under:

• KHFL 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;
   
• KHFL and its Directors/Promoters, 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.
   
• KHFL and its abovementioned Directors/Promoters, 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;
   
• KHFL shall provide a full inventory of all its assets and properties;
   
• KHFL's abovementioned Directors/Promoters shall provide a full inventory of all their assets and properties;
   
• KHFL and its abovementioned Directors/Promoters 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;
   
• KHFL and its abovementioned Directors/Promoters 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 KHFL;
   
• The Debenture Trustees, are prohibited from continuing with their assignment as debenture trustee in respect of the Offer of NCDs of KHFL 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 above directions shall take effect immediately and shall be in force until further orders.

Mumbai
 
November 24, 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 BITTU ABRAHAM & ASSOCIATES, click here.

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

For full copy of order against JOSE PHILIP, click here.

For full copy of order against K.JAYAPRASAD, click here.

For full copy of order against K.RADHAKRISHNAN, click here.

For full copy of order against KERALA HOUSING FINANCE LTD., 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.

For full copy of order against V.AYYAPPAN NAIR, click here.