November 30, 2015
PR No. 275/2015

Order against the past directors of M/s MBK Business Development (India) Ltd

Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an order dated November 20, 2015 against the past directors of MBK Business Development (India) Limited (MBK), viz. Shri Saikat Brahmachari, Shri Tanmoy Kundu and Shri Sadhan Chandra Brahmachari inter-alia directing that the above mentioned 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 abovementioned past Directors of MBK 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;
 
Further, the abovementioned past Directors of MBK shall provide a full inventory of all his assets and properties.
 
The company was engaged in fund mobilizing activity through issue of Secured Redeemable Debentures (SRD) to more than 49 persons without complying with relevant provisions of the Companies Act, 1956, SEBI (ILDS) Regulations, 2008 and the SEBI Act, 1992.
 
The above mentioned persons were earlier Directors of MBK during the offer of SRD by MBK.

Mumbai
 
November 30, 2015

For full copy of order against SADHAN CHANDRA BRAHMACHARI, click here.

For full copy of order against SAIKAT BRAHMACHARI, click here.

For full copy of order against TANMOY KUNDU, click here.