May
23, 2016
PR No. 102/2016
Order in the matter of M/s Bishal Horticulture and Animal Projects Limited
Shri Prashant Saran, Whole Time Member, SEBI has passed an order on May 16, 2016, wherein M/s. Bishal
Horticulture and Animal Projects Limited, its promoters/ directors, inter-alia have been directed to refund the money
collected by the company through issuance of Redeemable Preference Shares including the money collected from
investors, till date, pending allotment of securities, 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 company was engaged in fund mobilizing activity through issuance of Redeemable Preference Shares, to more
than 49 persons, without complying with the relevant provisions of the Companies Act, 1956 read with the
Companies Act, 2013 and the SEBI (Disclosure and Investor Protection) Guidelines, 2000 read with the SEBI (Issue
of Capital and Disclosure Requirements) Regulations, 2009.
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 May 06, 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 16, 2016 brings to conclusion the above said proceedings with the aforesaid
directions.
Mumbai
May 23, 2016
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For full copy of order against
BISHAL HORTICULTURE & ANIMAL PROJECTS LTD., MR.MADHAB CHANDRA PURKAIT, MR.GAUTAM KUMAR HALDER, MR.MOHD KALIMULLAH BAIDYA, MR.TUSHAR KANTI NANDI, MR.SANTOSH KUMAR PAUL,
MR.SWAPAN KUMAR BOSE, MR.RAM KUMAR SINHA, MR.SUSHANT KUMAR, MR.SACHIN KUMAR THAKUR, MR.CHANDAN SHAH, MR.SANKAR BHATTACHARJEE, MS.PRITI RANI CHOWDHURY, MR.RATAN CHOWDHURY and MS.SHIMA CHOWDHURY
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