June
16, 2017
PR No. 033/2017
Order in the matter of Basundhara Agro Resources (India) Ltd.
SEBI has passed an interim order dated June 7, 2017 against Basundhara Agro Resources (India) Ltd (BARIL) and its Directors/Promoters, viz. Mr. Sujit Dutta, Mr. Bibhas Pal, Mr. Somenath Mukherjee, Mr. Subhash Paul.,under Sections 11(1), 11(4), 11A(1)(b) and 11B of the SEBI Act, inter - alia directing:
- BARIL and the above named Directors namely, Sujit Dutta, Bibhas Pal, Somenath Mukherjee and Subhas Paul 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;
- BARIL 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;
- BARIL 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 28, 2015 and reminder letter dated April 08, 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 BASUNDHARA AGRO RESOURCES (INDIA) LTD., click here.
For full copy of order against BIBHAS PAL, click here.
For full copy of order against SOMENATH MUKHERJEE, click here.
For full copy of order against SUBHASH PAUL, click here.
For full copy of order against SUJIT DUTTA, click here.
|