June 14, 2017
PR No. 032/2017

Order in the matter of Shreebhumi Constructions Ltd.

SEBI has passed an Interim Order cum Show Cause Notice dated June 12, 2017 against Shreebhumi Constructions Ltd. (SCL) and its Directors, viz. Shubhranshu Singh, ChhotraiMajhi and Prabin Dash, under Sections 11(1), 11(4) and 11B of the SEBI Act, inter - alia directing: 

Shreebhumi Constructions Ltd. and the above named directors namely, Shubhranshu Singh, Chhotrai Majhi and Prabin Dash shall not access the securities market or buy, sell or otherwise deal in the securities market, either directly or indirectly, or associate themselves with any listed company or company intending to raise money from the public;

SCL and the above named Directors shall neither dispose of, alienate or encumber any of its/their assets nor divert any funds raised from public through the offer and allotment of preference shares; 

SCL and the above named Directors shall co-operate with SEBI and shall furnish all information/documents in connection with the offer and allotment of preference shares sought vide letter dated September 22, 2016 and reminder letter dated October 14, 2016.

It is observed that the company was engaged in fund mobilizing activity through issue of preference shares to more than 49 persons without complying with the provisions of the Companies Act, 1956.

For full copy of order against CHHOTRAI MAJHI, click here.

For full copy of order against PRABIN DASH, click here.

For full copy of order against SHREEBHUMI CONSTRUCTIONS LTD., click here.

For full copy of order against SHUBHRANSHU SINGH, click here.