November 30, 2015
PR No. 278/2015

Order against the past director of M/s Rising Agrotech Limited

Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an order dated November 20, 2015 against the past director of Rising Agrotech Limited (RAL), viz. Lina Kayal inter-alia directing that Lina Kayal is 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 Director of RAL is 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 Director of RAL shall provide a full inventory of all his assets and properties.
 
The company was engaged in fund mobilizing activity through issue of Preference Shares to more than 49 persons without complying with relevant provisions of the Companies Act, 1956 and the SEBI Act, 1992.
 
The above mentioned person was earlier a Director of RAL during the offer of preference shares by RAL

Mumbai
 
November 30, 2015

For full copy of order against LINA KAYAL, click here.