May 10, 2016
PR No. 093/2016

Order in the Matter of M/s. ATM Agro Projects India Limited

Shri Prashant Saran, Whole Time Member, SEBI has passed an order on May 02, 2016, wherein M/s. ATM Agro Projects India Limited, its promoters/ directors, inter-alia have been directed to refund the money collected by the company through issuance of Redeemable Preference Shares and Secured Redeemable Non – Convertible Debentures including the money collected from investors, till date, pending allotment of RPS and NCDs, if any, with interest at the rate of 15% per annum compounded at half yearly intervals.
 
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, directly or indirectly in whatsoever manner, with immediate effect. They are also restrained from issuing prospectus, offer document or advertisement soliciting money from the public and associating themselves with any listed public company and any public company which intends to raise money from the public, or any intermediary registered with SEBI. The above directions shall come into force with immediate effect and shall continue to be in force from the date of this Order till the expiry of 4 years from the date of completion of refunds to investors.
 
The Debenture Trustee viz. Trustees of Secured Debentures Trust of ATM Agro Projects India Limited, Ms. Pratima Roy, Mr. Ram Sunder Bhattacharya; ATM Secure Debenture Trust, Mr. Amit Samanta and Mr. Jagadish Chandra Nag are prohibited from acting as an intermediary, accessing the securities market and further restrained from buying, selling or dealing in securities, in any manner whatsoever, for a period of 4 years.
 
The company was engaged in fund mobilizing activity through issuance of Redeemable Preference Shares and Secured Redeemable Non – Convertible Debentures, to more than 49 persons, without complying with the relevant provisions of the Companies Act, 1956 and the relevant provisions of the SEBI (Issue and Listing of Debt Securities) Regulations, 2008.
 
The company and its directors shall issue public notice, in all editions of two National Dailies (one English and one Hindi) and in one local daily with wide circulation, detailing the modalities for refund, including details of contact persons including names, addresses and contact details, within fifteen days of this Order coming into effect.
 
SEBI had passed an interim order on February 12, 2015 in the matter, whereby inter-alia, it directed the company and its promoters/ directors not to collect any more money from investors through issuance of securities in any manner whatsoever.
 
The present order dated May 02, 2016 brings to conclusion the above said proceedings with the aforesaid directions.

Mumbai
May 10, 2016

For full copy of order against ATM AGRO PROJECTS INDIA LTD., MR.TAIMUR ALI GAYEN, MR.YUSUF ALI GAYEN, MR.INDRAJIT ROY, MR.SACHINDRA NATH BHATTACHARYA, MR.HASEM MIRZA, MS.ASHMIN KHATUN, MR.MIRZA DINAR, MS.NANDINI CHATTERJEE, MR.DEBASISH DASGUPTA, MR.KAMAL KISHORE LODHA, MR.DEBABRATA GHOSH, MR.PRADIP DAS, MR.TAHIDUR RAHAMAN GAYEN, MR.SAIFUL ALAM, MR.MOHAMMAD YOUNUS, TRUSTEES OF SECURED DEBENTURES TRUST OF ATM AGRO PROJECTS INDIA LTD.(REPRESENTED BY ITS TRUSTEES, VIZ. MS.PRATIMA ROY AND MR.RAM SUNDER BHATTACHARYA) AND ATM SECURE DEBENTURE TRUST (REPRESENTED BY ITS TRUSTEES, VIZ. MR.AMIT SAMANTA and MR.JAGADISH CHANDRA NAG) click here.