Caution to the Investors
- 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.
- 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.
- 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.
- 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.
- SEBI has taken action against 233 (as on March 15, 2016) 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.
- 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
- 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.
- 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.
- 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.
- 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 as on March 15, 2016 | |||
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 | Maharshtra | 23.06.2011 |
4 | SGI Research & Analysis Ltd. | Delhi | 11.01.2013 |
5 | Prayag Infotech Hi-Rise Limited | West Bengal | 18.02.2014 |
6 | Vibgyor Allied Infrastructure Ltd | West Bengal | 20.02.2014 |
7 | Kolkata Weir Industries Limited | West Bengal | 30.04.2014 |
8 | Ramel Industries Ltd | West Bengal | 15.05.2014 |
9 | Idol India Infrastructures Limited | Madhya Pradesh | 19.05.2014 |
10 | Seashore Securities Ltd | Odisha | 23.07.2014 |
11 | I core Eservices Ltd | West Bengal | 25.07.2014 |
12 | Falkon Industries India Limited | West Bengal | 08.08.2014 |
13 | Progress Cultivation Limited | West Bengal | 14.08.2014 |
14 | Regenix Drugs Limited | Tamil Nadu | 10.11.2014 |
15 | Real Tulip India Limited | Madhya Pradesh | 11.11.2014 |
16 | Micro Leasing and funding Ltd | Odisha | 21.11.2014 |
17 | Angel Rural Deveopment Limited | Madhya Pradesh | 21.11.2014 |
18 | NVD Solar Limited | West Bengal | 27.11.2014 |
19 | Sampriti Projects Limited | West Bengal | 28.11.2014 |
20 | Swarnabhumi Developers Limited | West Bengal | 02.12.2014 |
21 | SLB Invest (India) Limited | Odisha | 03.12.2014 |
22 | Mass Infra Realty Limited | West Bengal | 04.12.2014 |
23 | Midas Touch Assets & Securities Limited | Odisha | 09.12.2014 |
24 | Option One Industries Ltd | Madhya Pradesh | 16.12.2014 |
25 | Golden Life Agro India Limited | West Bengal | 07.01.2015 |
26 | Dynamic Asset Management Limited | Odisha | 09.01.2015 |
27 | Micro Finance Ltd | Odisha | 14.01.2015 |
28 | MPA Agro - Animals Projects Ltd | West Bengal | 21.01.2015 |
29 | Chakra Infrastructure Limited | West Bengal | 29.01.2015 |
30 | Basil International Limited | Delhi | 06.02.2015 |
31 | Greater Kolkata Infrastructure Limited | West Bengal | 06.02.2015 |
32 | Sukhchain Hire Purchase Limited | Madhya Pradesh | 11.02.2015 |
33 | Adamant Infrastructure Ltd | Madhya Pradesh | 11.02.2015 |
34 | ATM Agro Industries India Limited | West Bengal | 12.02.2015 |
35 | ATM Agro Projects India Limited | West Bengal | 12.02.2015 |
36 | Rightmax Technotrade International Limited | Karnataka | 20.02.2015 |
37 | GBC Enterprise Limited | West Bengal | 20.02.2015 |
38 | Nirmal Infrahome Corporation Ltd | Madhya Pradesh | 20.02.2015 |
39 | Tribhuvan Agro projects Ltd | West Bengal | 24.02.2015 |
40 | Target People Social Security Scheme Micro Finance Ltd | Tamil Nadu | 04.03.2015 |
41 | Fishermen Development Micro Finance Ltd. | Tamil Nadu | 04.03.2015 |
42 | ERIL Mutual Benefit India Limited | Jharkhand | 04.03.2015 |
43 | Promotech Infratech Limited | West Bengal | 05.03.2015 |
44 | Mega Mould India Limited | West Bengal | 05.03.2015 |
45 | Asoka Life Science Limited | West Bengal | 11.03.2015 |
46 | Maxbe Green Provision Limited | West Bengal | 13.03.2015 |
47 | Jeevan Suraksha Real Estate Limited | West Bengal | 13.03.2015 |
48 | Real Sunshine Corp Limited and its Directors | Madhya Pradesh | 13.03.2015 |
49 | Rista Fisheries & Infrastructure Limited | West Bengal | 16.03.2015 |
50 | Cell Industries Limited | West Bengal | 17.03.2015 |
51 | Sunshine Hi-Tech Infracon Ltd. | Gujarat | 17.03.2015 |
52 | GSHP Realtech Limited | West Bengal | 18.03.2015 |
53 | Goldmine Food Products Limited | West Bengal | 19.03.2015 |
54 | SCL Steel Corporation Lilmited | Madhya Pradesh | 19.03.2015 |
55 | URO Hygeinic Goods Limted | West Bengal | 19.03.2015 |
56 | URO Infotech Limited | West Bengal | 19.03.2015 |
57 | URO Life care Limited | West Bengal | 19.03.2015 |
58 | URO Walkers Limited | West Bengal | 19.03.2015 |
59 | URO Infra Realty India imited | West Bengal | 19.03.2015 |
60 | KKDIL Nidhi Ltd. | Odisha | 20.03.2015 |
61 | Real Agri Industries & Services Limited | West Bengal | 20.03.2015 |
62 | Rhine & Raavi Credits and Holdings Limited | Delhi | 27.03.2015 |
63 | Shivalik Cotex Ltd | Delhi | 27.03.2015 |
64 | Green India Infra Projects | Odisha | 27.03.2015 |
65 | Equinox Infratech Limited | Madhya Pradesh | 30.03.2015 |
66 | Morningstar Ventures Limited | West Bengal | 30.03.2015 |
67 | Fantasy Infraventure & Agrimart Limited | Uttar Pradesh | 30.03.2015 |
68 | Affiance Industries Limited | West Bengal | 31.03.2015 |
69 | Polaris Agro Industries Limited | West Bengal | 01.04.2015 |
70 | Mangalam Agro Products Limited | West Bengal | 06.04.2015 |
71 | Mount Vision Industries India Ltd | Madhya Pradesh | 22.04.2015 |
72 | Sankalp Projects Limited | West Bengal | 24.04.2015 |
73 | Nixcil Pharmaceuticals Specialities Limited | Uttar Pradesh | 24.04.2015 |
74 | Phenix Properties Limited | Assam | 24.04.2015 |
75 | Sunplant Forgings Limited | West Bengal | 29.04.2015 |
76 | Great Overseas Commodeal Limited | West Bengal | 06.05.2015 |
77 | Bishal Horticulture & Animal Projects Limited | West Bengal | 06.05.2015 |
78 | Bishal Distillers Limited | West Bengal | 06.05.2015 |
79 | Bishal Agri–Bio Industries Limited | West Bengal | 06.05.2015 |
80 | Bishal Abasan India Limited | West Bengal | 06.05.2015 |
81 | Suraksha Industries India Limited | Bihar | 07.05.2015 |
82 | Nava Diganta Capital Services Limited | Odisha | 07.05.2015 |
83 | Waris Healthcare Limited | West Bengal | 07.05.2015 |
84 | Subha Commercial Services Limited | Tripura | 08.05.2015 |
85 | MRS Agrotech India Limited | Madhya Pradesh | 08.05.2015 |
86 | RBX Land Developers India Limited | Madhya Pradesh | 12.05.2015 |
87 | Gulshan Nirman India Limited | Chhattisgarh | 12.05.2015 |
88 | Wasankar Wealth Management Limited | Maharashtra | 18.05.2015 |
89 | Verinder Finance Ltd | Jammu& Kashmir | 20.05.2015 |
90 | Amazan Capital Limited | West Bengal | 25.05.2015/ 29.05.2015 |
91 | Dolphin Universal Rural Development Limited | Madhya Pradesh | 27.05.2015 |
92 | Cemendia Infrastructures Limited | Madhya Pradesh | 29.05.2015 |
93 | Sun-Plant Business Limited | West Bengal | 03.06.2015 |
94 | Neesa Technologies Limited | Gujarat | 03.06.2015 |
95 | ASSR Agro India Limited | West Bengal | 04.06.2015 |
96 | STPL Infrastructures Limited | Madhya Pradesh | 05.06.2015 |
97 | AVM Real Estate & Allied Limited | Chhattisgarh | 05.06.2015 |
98 | Polaris Realtors IndiaLimited | Madhya Pradesh | 15.06.2015 |
99 | Bhabiswajyoti Infrastructure India Limited | Madhya Pradesh | 17.06.2015 |
100 | Gitanjali Udyog Limited | West Bengal | 17.06.2015 |
101 | Cell Realcon Corporation Limited | Madhya Pradesh | 17.06.2015 |
102 | Eris Energy Limited | Madhya Pradesh | 18.06.2015 |
103 | Greenbang Agro Limited | West Bengal | 18.06.2015 |
104 | Goldmine Agro Limited | West Bengal | 19.06.2015 |
105 | Goldmine Industries Limited | Madhya Pradesh | 22.06.2015 |
106 | Omisha Agri Industries (India) Limited | Madhya Pradesh | 22.06.2015 |
107 | Waris Finance and Investment Limited | West Bengal | 23.06.2015 |
108 | Jugantor Realty Limited | West Bengal | 23.06.2015 |
109 | Matribhumi Projects (I) Limited | West Bengal | 23.06.2015 |
110 | Annex Infrastructure India Limited | West Bengal | 24.06.2015 |
111 | Active Rural Development India Limited | Madhya Pradesh | 25.06.2015 |
112 | United Medicine and Surgical Industries Limited | West Bengal | 25.06.2015 |
113 | Angel Allied India Limited | Punjab | 29.06.2015 |
114 | Life Care Infrastructures India Limited | Madhya Pradesh | 29.06.2015 |
115 | Vishwamitra International Infra Ltd | Madhya Pradesh | 30.06.2015 |
116 | Shah Group Builders Ltd | Maharashtra | 01.07.2015 |
117 | Megasys Healthcare Limited | Madhya Pradesh | 02.07.2015 |
118 | Aspen Nirman India Limited | Madhya Pradesh | 15.07.2015 |
119 | Siyaram Development and Construction Limited | Karnataka | 17.07.2015 |
120 | Swasata Steel Industries Limited | West Bengal | 17.07.2015 |
121 | Madurai Rural Development Transformation India Limited | Tamil Nadu | 17.07.2015 |
122 | Madurai Rural Development Benefit Fund (India) Limited | Tamil Nadu | 17.07.2015 |
123 | Swasata Cement Limited | West Bengal | 21.07.2015 |
124 | Togo Retail Marketing Limited | Delhi | 22.07.2015 |
125 | Pinnacle Ventures India Limited | West Bengal | 24.07.2015 |
126 | Weird Infrastructure Corporation Limited | Uttar Pradesh | 24.07.2015 |
127 | Pailan Park Development Authority Limited | West Bengal | 27.07.2015 |
128 | Pailan Agro India Limited | Jammu& Kashmir | 27.07.2015 |
129 | DGR Farms & Leisures Ltd | Madhya Pradesh | 30.07.2015 |
130 | Kerala Housing Finance Limited | Kerala | 31.07.2015/ 20.11.2015 |
131 | Rising Agrotech Limited | West Bengal | 03.08.2015 |
132 | Alchemist Capital Limited (formerly known as Toubro Holdings Limited) | Chandigarh | 03.08.2015 |
133 | Kolkata Aryan Food Industries Limited | West Bengal | 03.08.2015 |
134 | PAFL Industries Limited | West Bengal | 05.08.2015 |
135 | Eminence Infra Projects Limited | West Bengal | 06.08.2015 |
136 | Rahul Inn Hospitality Limited | Bihar | 06.08.2015 |
137 | Skymarg Agro Industries India Limited | West Bengal | 07.08.2015 |
138 | Astha India Infra-tech Limited | West Bengal | 11.08.2015 |
139 | Aryan Agro Projects India Limited | West Bengal | 12.08.2015 |
140 | Magnox Infraprojects Limited | West Bengal | 13.08.2015 |
141 | Alchemist Holdings Ltd | Delhi | 14.08.2015 |
142 | Torsa Agro projects Ltd | West Bengal | 14.08.2015 |
143 | Aspen Projects India Limited | West Bengal | 14.08.2015 |
144 | Aditya Global Industries Limited | West Bengal | 19.08.2015 |
145 | Waris Agrotech (India) Limited | West Bengal | 24.08.2015 |
146 | Purusattam Infotech Industries Limited | West Bengal | 25.08.2015 |
147 | Sunshine Infrabuild Corporation Ltd | Delhi | 04.09.2015 |
148 | Life Care Infra Tech Limited | Uttar Pradesh | 14.09.2015 |
149 | Federal Agro Commercial Limited | Odisha | 29.09.2015 |
150 | BNP Real Estate and Allied Ltd | Madhya Pradesh | 29.09.2015 |
151 | Adorable Agrotech Ltd. | West Bengal | 01.10.2015 |
152 | Rahul Hi Rise Limited | West Bengal | 01.10.2015 |
153 | Sunheaven Agro India Limited | West Bengal | 08.10.2015 |
154 | Vaastav ALR International Limited | West Bengal | 09.10.2015 |
155 | Bharat Krishi Samridhi Industries Limited | West Bengal | 09.10.2015 |
156 | Shine India Infra Project Limited | West Bengal | 09.10.2015 |
157 | Idol India Projects Limited | West Bengal | 09.10.2015 |
158 | Greenworld Agro Industries Limited [earlier known as Bangadisha Projects Limited) | West Bengal | 12.10.2015 |
159 | Suraksha Agrotech Industries Limited | West Bengal | 12.10.2015 |
160 | Just Reliable Projects India Ltd | West Bengal | 13.10.2015 |
161 | Abyss Assam Real Estate Limited | Assam | 13.10.2015 |
162 | Orchid Cultivation Projects India Limited | West Bengal | 15.10.2015 |
163 | Yash Dream Real Estate Ltd. | Chhattisgarh | 15.10.2015 |
164 | Newland Agro Industries Limited | West Bengal | 19.10.2015 |
165 | Infinity Realcon Limited | West Bengal | 19.10.2015 |
166 | Megasys Medi Life Ltd | West Bengal | 19.10.2015 |
167 | Weird Industries Limited | West Bengal | 21.10.2015 |
168 | En Aromatic & Petro Chemicals Limited ( earlier known as Vamshi Chemicals Limited) | Delhi | 04.11.2015 |
169 | AapnaPariwar Agro Farming Developers India Limited | West Bengal | 09.11.2015 |
170 | Vasundhara Realcon Limited | West Bengal | 10.11.2015 |
171 | United Cosmetics Manufacturing (I) Limited | West Bengal | 20.11.2015 |
172 | Suncity Infracon Corporation (India) Limited | Assam | 20.11.2015 |
173 | Helios Corporation Ltd | Bihar | 20.11.2015 |
174 | Helios Chemicals Limited | Bihar | 20.11.2015 |
175 | Digstar Projects Limited | West Bengal | 01.12.2015 |
176 | Suraksha Family Services Limited | West Bengal | 01.12.2015 |
177 | IMAX Projects India Limited | West Bengal | 01.12.2015 |
178 | GreenTouch Projects Limited | West Bengal | 01.12.2015 |
179 | Ramel Pharma Limited | West Bengal | 02.12.2015 |
180 | Arcava Enterprises Limited | West Bengal | 02.12.2015 |
181 | Swabhumi Real Estate India Limited | West Bengal | 02.12.2015 |
182 | G R Agro Project Limited | West Bengal | 03.12.2015 |
183 | Regal Hitech Agro Projects (India) Limited | West Bengal | 03.12.2015 |
184 | Life Care Real Developers Limited | Delhi | 09.12.2015 |
185 | Adarsh Wealth Ventures Limited | Odisha | 10.12.2015 |
186 | AM Fund Managers Limited | Odisha | 10.12.2015 |
187 | Real Vision International Limited | Odisha | 10.12.2015 |
188 | Vista Management Services Limited | Odisha | 11.12.2015 |
189 | Hum Projects Limited | West Bengal | 11.12.2015 |
190 | Moonlight Associates Limited | Assam | 15.12.2015 |
191 | Sarada Pleasure and Adventure Limited | Bihar | 28.12.2015 |
192 | Multi Purpose Bios India Limited | West Bengal | 29.12.2015 |
193 | Prayas Projects India Limited | West Bengal | 29.12.2015 |
194 | Hahnemann Herbal Limited | Odisha | 30.12.2015 |
195 | Sunplant Constructions Limited | West Bengal | 31.12.2015 |
196 | Krutibibha Corporation Limited | Odisha | 31.12.2015 |
197 | Astha Green Energy Ventures India Ltd. | Telangana | 01.01.2016 |
198 | R B Horticulture & Animal Project Limited | West Bengal | 08.01.2016 |
199 | Express Cultivation Limited | West Bengal | 08.01.2016 |
200 | Milan and Milan International Limited | Odisha | 12.01.2016 |
201 | RTC Properties India Limited | West Bengal | 14.01.2016 |
202 | SEBA Real Estate Limited | Assam | 15.01.2016 |
203 | Mondal Constructions Company Limited | West Bengal | 15.01.2016 |
204 | Bharatiya Real Estate Development Ltd | West Bengal | 21.01.2016 |
205 | Vaibhav Pariwar India Projects Limited | West Bengal | 22.01.2016 |
206 | Amazan Agro Products Limited | West Bengal | 22.01.2016 |
207 | MBK Business Development (India) Limited | West Bengal | 04.02.2016 |
208 | Ramel Real Estate Infrastructure Ltd | West Bengal | 08.02.2016 |
209 | Q&B Retail Ltd | Delhi | 10.02.2016 |
210 | Ambitious Diversified Projects Management Limited | West Bengal | 15.02.2016 |
211 | Tresty Securities Ltd | Odisha | 16.02.2016 |
212 | Suvidha Land Developers India Limited | Madhya Pradesh | 16.02.2016 |
213 | SunTechno International Limited | West Bengal | 17.02.2016 |
214 | Jivan Sathi Dream Projects Limited | West Bengal | 17.02.2016 |
215 | Dreamland Industries Ltd | West Bengal | 17.02.2016 |
216 | Prism Infracon Limited | West Bengal | 18.02.2016 |
217 | Hooghly Agrotech Limited | West Bengal | 23.02.2016 |
218 | Amrit Projects (N.E) Limited | Assam | 23.02.2016 |
219 | Golden Heaven Agro Project india Limitd | West Bengal | 23.02.2016 |
220 | Everlight Realcon Infrastructure Ltd | Jharkhand | 23.02.2016 |
221 | Vikdas Industries Ltd. | West Bengal | 24.02.2016 |
222 | MARS Agrofarm Developers Limited | West Bengal | 26.02.2016 |
223 | Astha Techno Realty India Limited | West Bengal | 26.02.2016 |
224 | Amrit Projects Limited | West Bengal | 26.02.2016 |
225 | Infocare Infra Limited | West Bengal | 01.03.2016 |
226 | Angela Agrotech Limited | West Bengal | 01.03.2016 |
227 | Ravi Kiran Realty India Limited | West Bengal | 01.03.2016 |
228 | Shreysth Production Industries Limited | West Bengal | 02.03.2016 |
229 | Shristi Procon Limited | West Bengal | 02.03.2016 |
230 | Pious Agro Industries Limited | West Bengal | 02.03.2016 |
231 | I-Nova Solutions Limited | West Bengal | 02.03.2016 |
232 | Silicon Projects Limited | West Bengal | 03.03.2016 |
233 | Shankalp Food and Beverages Limited | West Bengal | 04.03.2016 |
Mumbai
March 16, 2016