January 15, 2016
PR No. 012/2016

Order in the matter of M/s Milan and Milan International Limited

Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an interim order cum Show Cause Notice dated January 12, 2016 in the matter of Milan and Milan International Limited, inter-alia directing that the company shall not mobilize funds from investors through issue of securities. Further, the company and its promoters/ present and past 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 promoters/ directors are also 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 and its promoters/ present 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 of SEBI and not to divert any funds raised from public at large through the offer of Preference shares, which are kept in bank account(s) and/or in the custody of the company.
 
The company was engaged in fund mobilizing activity through issue of Preference shares to more than 49 person without complying with the relevant provisions of the Companies Act, 1956.

Mumbai
 
January 15, 2016

For full copy of order against BHIKARI CHARAN LENKA, click here.

For full copy of order against JAGDISH SARANGI, click here.

For full copy of order against MD.SHAMSHAD ALI, click here.

For full copy of order against MILAN & MILAN INTERNATIONAL LTD., click here.

For full copy of order against NIZAMUDDIN KHAN, click here.

For full copy of order against SANGRAM KESHORI SAMAL, click here.

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