Caution to Investors

Press Release
Securities and Exchange Board of India
Jul 31, 2015
PR No.: 198/2015
  1. Some unlisted companies are luring retail investors by issuing  securities  including non-convertible and convertible debentures/ non-convertible and convertible preference  shares/ equity shares in the garb of private placement,  without  complying with the provisions of Companies Act, 1956 read  with  the Companies Act, 2013, SEBI (Issue and Listing of  Debt Securities), Regulations, 2008, SEBI (Issue and Listing of  Non-Convertible  Redeemable Preference Shares), Regulations, 2013 and SEBI (Issue of capital and Disclosure Requirements) Regulations, 2009.
  2. Any offer of securities made to 50 or more persons has to be construed as a “Public Offer” under the provisions of Companies Act, 1956.
  3. Under Companies Act, 2013, “Private Placement” shall be made only to such persons whose names are recorded by the company prior to the invitation to subscribe.  Further, in case of private placements, the company shall not release any public advertisements or utilise any media, marketing or distribution channels or agents to inform the public at large about such an offer. Further, such offer or invitation shall not be made to more than 200 persons in the aggregate in a financial year
  4. As per the provisions of Companies Act, 2013 and SEBI Regulations, no issuer shall make public issue of these securities, unless it has made application to the recognized Stock Exchange(s) for listing of such securities. Further, the issuer, among the other things, is required to file the offer document with RoC/Stock Exchange/SEBI etc. The issuer has to make disclosures about the issuer company, the promoters of the company, the risk factors etc.
  5. SEBI has taken action against 193 such entities for issuance of securities in the form of non-convertible and convertible preference shares/ non-convertible and convertible debentures/ equity shares to public, without complying with the prescribed provisions of law as referred in Para 1, 2, 3 & 4 above.
  6. List of the Companies against whom orders have been passed by SEBI is given below with this press release. The orders are also available on SEBI website at www.sebi.gov.in
  7. SEBI has also passed orders against entities/ individuals who have acted as debenture trustees for debt issuance of companies without being registered with SEBI as Debenture Trustee as per SEBI Act, 1992.
  8. Companies are cautioned not to issue securities to public without complying with provisions of law as referred in Para 1, 2, 3 & 4 above, failing which SEBI will be constraint to take stringent action against such companies and their directors.
  9. Investors are also cautioned not to subscribe to such issues. Investors are advised to see whether any such entity has filed offer document or filed application with Stock Exchange for listing.
  10. Individuals/Entities acting as Debenture Trustees without being registered with SEBI, are advised not to act in the said capacity.

Order passed in respect of Deemed public issues  U/s 67 of the Companies Act, 1956 

Sr. No.

Name of the Entity

Location of the Entity

Date of Order

1

Kunnamkulam Paper Mills Ltd

Kerala

10.04.2003

2

Sahara India Real Estate Corporation Ltd

Uttar Pradesh

23.06.2011

3

Sahara Housing Investment Corporation Ltd

Maharashtra

23.06.2011

4

SGI Research & Analysis Ltd.

Delhi

11.01.2013

5

Basil International Limited  

Delhi 

06.02.2015 

6

Rhine & Raavi Credits and Holdings Limited 

Delhi 

27.03.2015 

7

Alchemist Holding Limited 

Delhi 

20.09.2013 

8

Vibgyor Allied Infrastructure Ltd

West Bengal

20.02.2014

9

Kolkata Weir Industries Limited 

West Bengal 

30.04.2014 

10

Ramel Industries Ltd

West Bengal

15.05.2014

11

Aspen Projects India Limited

West Bengal

05.06.2014

12

Golden Life Agro India Limited

West Bengal

07.01.2015

13

Greater Kolkata Infrastructure Limited

West Bengal

06.02.2015

14

GSHP Realtech Limited

West Bengal

18.03.2015

15

Promotech Infratech Limited

West Bengal

05.03.2015

16

Mega Mould India Limited

West Bengal

05.03.2015

17

Seashore Securities Ltd

Odisha

23.07.2014

18

Icore-E-services Ltd

West Bengal

25.07.2014

19

PAFL Industries Limited

West Bengal

31.07.2014

20

Sunplant Constructions Limited

West Bengal

24.07.2014

21

Ramel Real Estate Infrastructure Ltd

West Bengal

06.08.2014

22

MBK Business Development (India) Limited

West Bengal

07.08.2014

23

GreenTouch Projects Limited

West Bengal

07.08.2014

24

Falkon Industries India Limited

West Bengal

08.08.2014

25

Ravi Kiran Realty India Limited

West Bengal

08.08.2014

26

Multi-Purpose Bios India Limited

West Bengal

14.08.2014

27

Progress Cultivation Limited

West Bengal

14.08.2014

28

Pinnacle Ventures India Limited

West Bengal

24.07.2015

29

Magnox Indraprojects Limited

West Bengal

22.08.2014

30

Amrit Projects (N.E) Limited

Assam

22.08.2014

31

Bharat Krishi Samridhi Industries Limited

West Bengal

05.09.2014

32

Amrit Projects Limited

West Bengal

09.09.2014

33

Rising Agrotech Limited

West Bengal

09.09.2014

34

Purusattam Infotech Industries Limited

West Bengal

09.09.2014

35

SEBA Real Estate Limited

Assam

10.09.2014

36

Torsa Agro Projects Limited

West Bengal

12.09.2014

37

Wierd Industries Limited

West Bengal

15.09.2014

38

Weird Infrastructure Corporation Limited

Uttar Pradesh

24.09.2014

39

Life Care Real Developers Limited

New Delhi

29.09.2014

40

Vamshi  Chemicals Limited

New Delhi

30.10.2014

41

Life Care Infra Tech Limited

Uttar Pradesh

03.11.2014

42

Regenix Drugs Limited

Tamilnadu

10.11.2014

43

Real Tulip India Limited

Madhya Pradesh

11.11.2014

44

Newland Agro Industries Limited

West Bengal

20.11.2014

45

Sunheaven Agro India Limited

West Bengal

20.11.2014

46

Micro Leasing and funding Ltd

Bhubaneshwar

21.11.2014

47

Angel Rural Deveopment Limited

Madhya Pradesh

21.11.2014

48

Prism Infracon Limited

West Bengal

24.11.2014

49

NVD Solar Limited

West Bengal

27.11.2014

50

Sampriti Projects Limited

West Bengal

28.11.2014

51

Vista Management Services Limited

Odisha

01.12.2014

52

Kolkata Aryan Food Industries Limited

West Bengal

01.12.2014

53

Federal Agro Commercial Limited

Odisha

01.12.2014

54

Waris Agrotech (India) Limited

West Bengal

01.12.2014

55

Swarnabhumi Developers Limited

West Bengal

02.12.2014

56

Bharatiya Real Estate Development Ltd

West Bengal

02.12.2014

57

SLB Invest (India) Limited

Odisha

03.12.2014

58

Orchid Cultivation Projects India Limited

West Bengal

03.12.2014

59

Aditya Global Industries Limited

West Bengal

03.12.2014

60

Greenworld Agro Industries Limited [earlier known as Bangadisha Projects Limited)

West Bengal

04.12.2014

61

Mass Infra Realty Limited

West Bengal

04.12.2014

62

Alchemist Capital Limited (formerly known as Toubro Holdings Limited)

Chandigarh

08.12.2014

63

Midas Touch Assets & Securities Limited

Odisha

09.12.2014

64

Yash Dream Real Estate Ltd.

Chhattisgarh

16.12.2014

65

Adorable Agrotech Ltd.

West Bengal

15.12.2014

66

Mondal Constructions Company Limited

West Bengal

15.12.2014

67

Option One Industries Ltd

Madhya Pradesh

16.12.2014

68

Just Reliable Projects India Ltd

West Bengal

16.12.2014

69

Vaibhav Pariwar India Projects Limited

West Bengal

29.12.2014

70

Suraksha Agrotech Industries Limited

West Bengal

29.12.2014

71

Silicon Projects Limited

West Bengal

06.01.2015

72

Infinity Realcon Limited

West Bengal

07.01.2015

73

Dynamic Asset Management Limited

Odisha

09.01.2015

74

Micro Finance Ltd

Odisha

14.01.2015

75

MPA Agro - Animals Projects Ltd

West Bengal

21.01.2015

76

Megasys Medi Life Ltd

West Bengal

28.01.2015

77

Chakra Infrastructure Limited

West Bengal

29.01.2015

78

Krutibibha Corporation Limited

Odisha

29.01.2015

79

Vikdas Industries Ltd.

West Bengal

29.01.2015

80

Prayas Projects India Limited

West Bengal

30.01.2015

81

Amazon Agro Products Limited

West Bengal

30.01.2015

82

Sarada Pleasure and Adventure Limited

Bihar

02.02.2015

83

Hooghly Agrotech Limited

West Bengal

11.02.2015

84

Sukhchain Hire Purchase Limited

Madhya Pradesh

11.02.2015

85

Adamant Infrastructure Ltd

Madhya Pradesh

11.02.2015

86

Suvidha Land Developers India Limited

Madhya Pradesh

12.02.2015

87

ATM Agro Industries India Limited

West Bengal

12.02.2015

88

ATM Agro Projects India Limited

West Bengal

12.02.2015

89

AM Fund Managers Limited

Odisha

20.02.2015

90

Rightmax Technotrade International Limited

Karnataka

20.02.2015

91

GBC Enterprise Limited

West Bengal

20.02.2015

92

Nirmal Infrahome Corporation Ltd

Chhattisgarh

20.02.2015

93

Dreamland Industries Ltd

West Bengal

24.02.2015

94

Tribhuvan Agro projects Ltd

West Bengal

24.02.2015

95

Target People Social Security Scheme Micro Finance Ltd

Tamil Nadu

04.03.2015

96

Fishermen Development Micro Finance Ltd.

Tamil Nadu

04.03.2015

97

ERIL Mutual Benefit India Limited

Jharkhand

04.03.2015

98

Asoka Life Science Limited

West Bengal

11.03.2015

99

Golden Heaven Agro Project India Limited

West Bengal

12.03.2015

100

Maxbe Green Provision Limited

West Bengal

13.03.2015

101

Jeevan Suraksha Real Estate Limited 

West Bengal

13.03.2015

102

Real Sunshine Corp Limited and its Directors

Madhya Pradesh

13.03.2015

103

Rista Fisheries & Infrastructure Limited

West Bengal

16.03.2015

104

Cell Industries Limited

West Bengal

17.03.2015

105

Astha Green Energy Ventures India Ltd.

Telangana

17.03.2015

106

Sunshine Hi-Tech Infracon Ltd.

Gujarat

17.03.2015

107

URO Hygeinic Goods Limited

West Bengal

19.03.2015

108

URO Infotech Limited

West Bengal

19.03.2015

109

URO Life care Limited

West Bengal

19.03.2015

110

URO Walkers Limited

West Bengal

19.03.2015

111

URO Infra Realty India Limited

West Bengal

19.03.2015

112

Adarsh Wealth Ventures Limited

Odisha

19.03.2015

113

Astha Techno Realty India Limited

West Bengal

19.03.2015

114

MARS Agrofarm Developers Limited

West Bengal

19.03.2015

115

Goldmine Food Products Limited

West Bengal

19.03.2015

116

SCL Steel Corporation Lilmited

Madhya Pradesh

19.03.2015

117

Infocare Infra Limited

West Bengal

19.03.2015

118

Real Agri Industries & Services Limited

West Bengal

20.03.2015

119

Hum Projects Limited

West Bengal

20.03.2015

120

Real Vision International Limited

Odisha

20.03.2015

121

Tresty Securities Ltd

Odisha

20.03.2015

122

Everlight Realcon Infrastructure Ltd

Jharkhand

20.03.2015

123

Shivalik Cotex Ltd

Delhi

27.03.2015

124

Green India Infra Projects

Odisha

27.03.2015

125

Equinox Infratech Limited

Madhya Pradesh

30.03.2015

126

Idol India Infrastructures Limited

Madhya Pradesh

19.05.2014

127

Morningstar Ventures Limited

West Bengal

30.03.2015

128

Affiance Industries Limited

West Bengal

31.03.2015

129

I-Nova Solutions Limited

West Bengal

31.03.2015

130

Polaris Agro Industries Limited

West Bengal

01.04.2015

131

Sunshine Infrabuild Corporation Ltd

Delhi

01.04.2015

132

Mangalam Agro Products Limited

West Bengal

06.04.2015

133

Pious Agro Industries Limited

West Bengal

17.04.2015

134

Fantasy Infraventure & Agrimart Limited

Uttar Pradesh

30.03.2015

135

Angela Agrotech Limited

West Bengal

21.04.2015

136

Mount Vision Industries India Ltd

Madhya Pradesh

22.04.2015

137

Sankalp Projects Limited

West  Bengal

24.04.2015

138

Nixcil Pharmaceuticals Specialities Limited

Uttar Pradesh

24.04.2015

139

Phenix Properties Limited

Assam

24.04.2015

140

Sunplant Forgings Limited

West Bengal

29.04.2015

141

Great Overseas Commodeal Limited

West Bengal

06.05.2015

142

Bishal Horticulture & Animal Projects Limited

West Bengal

06.05.2015

143

Bishal Distillers Limited

West Bengal

06.05.2015

144

Bishal Agri–Bio Industries Limited

West Bengal

06.05.2015

145

Bishal Abasan India Limited

West Bengal

06.05.2015

146

Suraksha Industries India Limited

Bihar

07.05.2015

147

Nava Diganta Capital Services Limited

Odisha

07.05.2015

148

Waris Healthcare Limited

West Bengal

07.05.2015

149

Subha Commercial Services Limited

Tripura

08.05.2015

150

MRS Agrotech India Limited

Madhya Pradesh

08.05.2015

151

RBX Land Developers India Limited

Madhya Pradesh

12.05.2015

152

Gulshan Nirman India Limited

Chhattisgarh

12.05.2015

153

Wasankar Wealth Management Limited

Maharashtra

18.05.2015

154

Verinder Finance Ltd

Jammu and Kashmir

20.5.2015

155

Amazan Capital Limited

West Bengal

25.05.2015/

29.05.2015

156

Dolphin Universal Rural Development Limited

Madhya Pradesh

27.05.2015

157

Cemendia Infrastructures Limited

Madhya Pradesh

29.05.2015

158

Sun-Plant Business Limited

West Bengal

03.06.2015

159

Neesa Technologies Limited

Gujarat

03.06.2015

160

ASSR Agro India Limited

West Bengal

04.06.2015

161

STPL Infrastructures Limited

Madhya Pradesh

05.06.2015

162

AVM Real Estate & Allied Limited

Chhattisgarh

05.06.2015

163

Polaris Realtors IndiaLimited

Madhya Pradesh

15.06.2015

164

Bhabiswajyoti Infrastructure India Limited

Madhya Pradesh

17.06.2015

166

Gitanjali Udyog Limited

West Bengal

17.06.2015

167

Cell Realcon Corporation Limited

Madhya Pradesh

17.06.2015

168

Eris Energy Limited

Madhya Pradesh

18.06.2015

170

Greenbang Agro Limited

West Bengal

18.06.2015

171

Goldmine Agro Limited

West Bengal

19.06.2015

172

Goldmine Industries Limited

Madhya Pradesh

22.06.2015

173

Omisha Agri Industries (India) Limited

Madhya Pradesh

22.06.2015

174

Waris Finance and Investment Limited

West Bengal

23.06.2015

175

Jugantor Realty Limited

West Bengal

23.06.2015

176

Matribhumi Projects (I) Limited

West Bengal

23.06.2015

177

Annex Infrastructure India Limited

West Bengal

24.06.2015

178

Active Rural Development India Limited

Madhya Pradesh

25.06.2015

179

United Medicine and Surgical Industries Limited

West Bengal

25.06.2015

180

Angel Allied India Limited

Punjab

29.06.2015

181

Life Care Infrastructures India Limited

Madhya Pradesh

29.06.2015

182

Vishwamitra International Infra Ltd

Madhya Pradesh

30.06.2015

183

Shah Group Builders Ltd

Maharashtra

01.07.2015

184

Megasys Healthcare Limited                                  

Madhya Pradesh

02.07.2015

185

Aspen Nirman India Limited

Madhya Pradesh

15.07.2015

186

Siyaram Development and Construction Limited

Karnataka

17.07.2015

187

Swasata Steel Industries Limited

West Bengal

17.07.2015

188

Madurai Rural Development Transformation India Limited

Tamilnadu

17.07.2015

190

Madurai Rural Development Benefit Fund (India) Limited  

Tamilnadu

17.07.2015

191

Togo Retail Marketing Limited

Delhi

22.07.2015

192

Pailan Park Development Authority Limited

West Bengal

27.07.2015

193

Pailan Agro India Limited

Jharkhand

27.07.2015