Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an order dated November 20, 2015 against the past directors of Mangalam Agro Products Limited (MAPL), viz.  Smt Runa Mazumder, Smt Nabanita Sikder and  Smt Runa Sikder  inter-alia directing that  the above mentioned  Directors  are  prohibited from issuing prospectus or any offer document or issue advertisement for soliciting money from the public for the issue of securities, in any manner whatsoever, either directly or indirectly, till further orders;

The abovementioned past Directors of  MAPL are restrained from accessing the securities market and further prohibited from buying, selling or otherwise dealing in the securities market, either directly or indirectly, till further directions;

Further, the abovementioned past Directors of MAPL shall provide a full inventory of all his assets and properties.

The company was engaged in fund mobilizing activity through issue of Secured Non–Convertible Redeemable Debentures (NCD) to more than 49 persons without complying with relevant provisions of the Companies Act, 1956, SEBI (ILDS) Regulations, 2008 and the SEBI Act, 1992.

The above mentioned persons were earlier Directors of MAPL during the offer of NCD by MAPL.

The full text of the order is available on the website: www.sebi.gov.in