PRESS RELEASE - SEBI

April 01, 2016
PR No. 073/2016


Order in the Matter of M/s. Rising Agrotech Limited

Shri Prashant Saran, Whole Time Member, SEBI has passed an order dated March 16, 2016. The Order inter alia
directs as under:

  1. Rising Agrotech Limited, Mr. Santosh Kumar Dwivedi, Mr. Dipan Kumar Sen, Mr. Binay Kumar Shaw, Mr.Siddhartha Kayal, Smt. Lina Kayal, Mr. Awadhesh Kumar Singh, Mr. Amaresh Pandey, Mr. Bikash Bhandary and Mr. Sushovan Roy are restrained from mobilizing funds through the issue of equity shares or through any other form of securities, to the public and/ or invite subscription, in any manner whatsoever, either directly or indirectly, till further directions.
     
  2. Rising Agrotech Limited and its promoters/ directors including the above named persons 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.
     
  3. Rising Agrotech Limited and its promoters/ directors including the above named persons shall not divert any funds raised from public at large through the issuance of the impugned equity shares, kept in its bank accounts and/ or in the custody of the Company without prior permission of SEBI until further orders.
     
  4. Rising Agrotech Limited and its promoters/ directors including the above named persons are restrained from accessing the securities market and are further prohibited from buying, selling or otherwise dealing in securities in any manner whatsoever, either directly or indirectly, till further directions.
     
  5. Rising Agrotech Limited and its promoters/ directors including the above named persons shall co-operate with SEBI and shall furnish all the documents that they have been or shall be required to furnish.
     
  6. Rising Agrotech Limited and its promoters/ directors including the above named persons are also directed to provide a full inventory of all their assets and properties and details of all their bank accounts, demat accounts and holdings of shares/ securities, if held in physical form.

The above directions shall take effect immediately and shall be in force until further orders.
 
It is observed that the company was engaged in fund mobilizing activity through issue of Equity Shares to more than 49 persons without complying with the relevant provisions of the Companies Act, 1956 and the provisions of the SEBI (ICDR) Regulations, 2009.

Mumbai
April 01, 2016

 

For full copy of order against AMARESH PANDEY, click here.

For full copy of order against AWADHESH KUMAR SINGH, click here.

For full copy of order against BIKASH BHANDARY, click here.

For full copy of order against BINAY KUMAR SHAW, click here.

For full copy of order against DIPAN KUMAR SEN, click here.

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

For full copy of order against RISING AGROTECH LTD., click here.

For full copy of order against SANTOSH KUMAR DWIVEDI, click here.

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

For full copy of order against SUSHOVAN ROY, click here.