March 15, 2016
PR No. 057/2016

Order in the matter of M/s Shankalp Food and Beverages Limited

Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an interim order cum Show Cause Notice March 04, 2016 in the matter of Shankalp Food and Beverages Limited, inter-alia directing that the company shall not mobilize funds from investors. Further, the company, its promoters/ 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 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 from SEBI and not to divert any funds raised from public at large through the Offer of Secured Non – Convertible Redeemable Debentures, which are kept in bank account(s) and/or in the custody of the company.
 
The Debenture Trustees, Debenture Trustee, viz. Shankalp Secured Debenture Trust (represented by its Trustees, viz. Shri Amit Samanta and Shri Jagadish Chandra Nag) is prohibited from continuing with his present assignment as debenture trustees in respect of the Offer of Secured Non – Convertible Redeemable Debentures of the company 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 company, its promoters/ 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.
 
The company was engaged in fund mobilizing activity through issue of Non – Convertible Secured Redeemable Debentures to more than 49 persons 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
March 15, 2016

For full copy of order against AMIT SAMANTA, click here.

For full copy of order against ANIRUDHHA BHATTACHARYA, click here.

For full copy of order against GOPA GHOSH, click here.

For full copy of order against JAGADISH CHANDRA NAG, click here.

For full copy of order against KSHITISH CHANDRA MANDAL, click here.

For full copy of order against SAUGATA GANGULY, click here.

For full copy of order against SHANKALP FOOD & BEVERAGES LTD., click here.

For full copy of order against SHANKALP SECURED DEBENTURE TRUST, click here.

For full copy of order against TAPAN MONDAL, click here.

For full copy of order against TOOFAN CHANDRA DEY, click here.

For full copy of order against TRIVENI PRASAD BARANWAL, click here.