Caution to investors

1. Some unlisted companies are luring retail investors by issuing  securities  including non convertible debentures/ non convertible preference  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 and SEBI (Issue and Listing of  Non Convertible  Redeemable Preference Shares),Regulations, 2013.

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 112 such entities, since January 2013 for issuance of securities in the form of non convertible preference shares/ non convertible debentures 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. 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.

8. 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.

Orders Passed in respect of Deemed Public Issue

Sl. No. Date of Order Name of the entity Region Nature of Order 
1 September 20, 2013 Alchemist Holdings Ltd NRO Interim
2 April 30, 2014 Kolkata Weir Industries Limited ERO Final
3 May 19, 2014 Idol India Infrastructures Limited WRO Final
4 June 05, 2014 Aspen Projects India Limited  ERO Interim
5 July 16, 2014 Sunplant Forgings Limited ERO Interim
6 July 24, 2014 Sunplant Constructions Limited ERO Interim
7 July 31, 2014 Wasankar Wealth Management Limited HO Interim
8 July 31, 2014 PAFL Industries Limited ERO Interim
9 August 6, 2014 Ramel Real Estate Infrastructure Ltd ERO Interim
10 August 7, 2014 MBK Business Development (India) Limited ERO Interim
11 August 7, 2014 GreenTouch Projects Limited ERO Interim
12 August 8, 2014 Falkon Industries India Limited ERO Interim
13 August 8, 2014 Ravi Kiran Realty India Limited ERO Interim
14 August 14, 2014 Progress Cultivation Ltd ERO Interim
15 August 14, 2014 Multi Purpose Bios India Limited ERO Interim
16 August 22, 2014  Pinnacle Ventures India Limited ERO Interim
17 August 22, 2014  Magnox Infraprojects Limited ERO Interim
18 August 22, 2014  Amrit Projects (N. E.) Limited ERO Interim
19 September 5, 2014 Bharat Krishi Samridhi Industries Ltd ERO Interim
20 September 9, 2014 Purusattam Infotech Industries Limited ERO Interim
21 September 9, 2014 Amrit Projects Ltd ERO Interim
22 September 9, 2014 Rising Agrotech ERO Interim
23 September 10, 2014 SEBA Real Estate Limited ERO Interim
24 September 12, 2014 Torsa Agro projects Ltd ERO Interim
25 September 15, 2014 Weird Industries Ltd ERO interim
26 September 24, 2014 Weird Infrastructure Corporation Limited NRO Interim
27 September 29, 2014  Life Care Real Developers Limited NRO Interim
28 October 30, 2014 Vamshi Chemicals Limited NRO Interim
29 November 03, 2014 Life Care Infra Tech Limited NRO Interim
30 November 11, 2014 Real Tulip India Ltd WRO Interim
31 November 20, 2014 Newland Agro Industries Ltd ERO Interim
32 November 20, 2014 Sun Heaven Agro India Ltd ERO Interim
33 November 21, 2014 Angel Rural Development Ltd WRO Interim
34 November 21, 2014 Micro Leasing and Funding Limited  ERO Interim
35 November 24, 2014 Prism Infracon Limited ERO Interim
36 November 24, 2014 Sun-Plant Business Limited ERO Interim
37 November 28, 2014  Sampriti Projects Limited  ERO Interim
38 December 1, 2014 Federal Agro Commercials Limited ERO Interim
39 December 1, 2014  Kolkata Aryan Food Industries Limited ERO Interim
40 December 1, 2014 Waris Agrotech (India) Limited ERO Interim
41 December 1, 2014 Vista Management Services Limited ERO Interim
42 December 2, 2014 Swarnabhumi Developers Limited ERO Interim
43 December 2, 2014 Bharatiya Real Estate Development Limited ERO Interim
44 December 3, 2014 SLB Invest (India) Ltd ERO Interim
45 December 3, 2014 Aditya Global Industries Limited ERO Interim
46 December 3, 2014 Orchid Cultivation Projects India Limited ERO Interim
47 December 4, 2014 Mass Infra Reality Ltd ERO Interim
48 December 4, 2014 Greenworld Agro Industries Limited ERO Interim
49 December 8, 2014 Alchemist Capital Limited NRO Interim
50 December 15, 2014 Adorable Agrotech Limited ERO Interim
51 December 15, 2014 Mondal Construction Company Limited ERO Interim
52 December 16, 2014 Just-Reliable Projects India Limited ERO Interim
53 December 16, 2014 Option One industries ltd WRO Interim
54 December 29, 2014 Suraksha Agrotech Industries Limited ERO Interim
55 December 29, 2014 Vaibhav Pariwar India Projects Limited ERO Interim
56 January 06, 2015 Silicon Projects India Limited ERO Interim
57 January 7, 2015 Golden Life Agro India Limited  ERO Final
58 January 07, 2015 Infinity Realcon Limited ERO Interim
59 January 09, 2015 Dynamic Asset Management Limited ERO Interim
60 January 28,2015 Megasys Medi Life Limited ERO Interim
61 January 29,2015 Vikdas Industries Limited ERO Interim
62 January 29,2015 Chakra Infrastructure Limited ERO Interim
63 January 29,2015 Krutibibha Corporation Ltd ERO Interim
64 January 30,2015 Prayas Projects India Limited ERO Interim
65 January 30,2015 Amazan Agro Products Limited ERO Interim
66 February 02,2015 Sarada pleasue and Advantage Limited ERO Interim
67 February 06, 2015 Basil International Limited NRO Final 
68 February 06, 2015 Greater Kolkata Infrastructure Limited  ERO Final 
69 February 11, 2015 Hooghly Agrotech Limited ERO Interim
70 February 11, 2015 Sukhchain Hire Purchase Limited WRO Interim
71 February 11, 2015 Adamant Infrastructures Limited WRO Interim
72 February 12, 2015 ATM Agro Industries India Limited ERO Interim
73 February 12, 2015 ATM Agro Projects India Limited ERO Interim
74 February 12, 2015 Suvidha Land developers India Limited WRO Interim
75 February 20, 2015 GBC Enterprise Limited ERO Interim
76 February 20, 2015  AM Fund Managers Limited ERO Interim
77 February 20, 2015 Rightmax Technotrade International Limited SRO Interim
78 February 20, 2015 Nirmal Infrahome Corporation Limited WRO Interim
79 February 24, 2015 Dreamland Industries Limited ERO Interim
80 February 24, 2015 Tribhuvan Agro Project Limited ERO Interim
81 March 05, 2015 Mega Mould India Limited  ERO Final
82 March 05, 2015 Promotech Infratech Limited ERO Final
83 March 11, 2015 Asoka Life Science Limited ERO Interim
84 March 12, 2015 Golden Heaven Agro Project India Limited ERO Interim
85 March 13, 2015 MaxBe Green ProVision Limited ERO Interim
86 March 13, 2015 Jeevan Suraksha Real Estate Limited ERO Interim
87 March 13, 2015 Real Sunshine Corp Limited WRO Interim
88 March 16, 2015 Rista Fisheries and Infrastructure Limited ERO Interim
89 March 17, 2015 Cell Industries Limited ERO Interim
90 March 18,2015 GSHP Realtech Limited ERO Final
91 March 19, 2015 MARS Agrofarm Developers Limited ERO Interim
92 March 19, 2015 Adarsh Wealth Ventures Limited ERO Interim
93 March 19, 2015 Goldmine Food Products Limited ERO Interim
94 March 19, 2015 SCL Steel Corporation Limited WRO Interim
95 March 19, 2015 Astha Techno Realty India Limited ERO Interim
96 March 19, 2015 Infocare Infra Limited ERO Interim
97 March 20, 2015 Hum Projects Limited ERO Interim
98 March 20, 2015 Real Agri Industries & Services Limited ERO Interim
99 March 20, 2015 Real Vision International Limited ERO Interim
100 March 20, 2015 Tresty Securities Limited ERO Interim
101 March 20, 2015 Everlight Realcon Infrastructure Limited ERO Interim
102 March 27, 2015 Rhine And Raavi Credits & Holdings Ltd.  NRO Final
103 March 30, 2015 Equinox Infratech Limited WRO Interim
104 March 30, 2015 Morningstar Ventures Limited ERO Interim
105 March 30, 2015 Fantasy Infraventure & Agrimart India Limited NRO Interim
106 March 31, 2015 Affiance Industries Limited ERO Interim
107 March 31, 2015 I-Nova Solutions Limited ERO Interim
108 April 01, 2015 Polaris Agro Industries Limited ERO Interim
109 April 01, 2015 Sunshine Infrabuild Corporation Ltd NRO Interim
110 April 06, 2015 Mangalam Agro Products Ltd  ERO Final
111 April 17, 2015 Pious Agro Industries Limited ERO Interim
112 April 21, 2015 Angela Agrotech Limited ERO Interim

PR No. 116/2015- Mumbai- April 23, 2015

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Category : SEBI (2898)
Tags : SEBI notifications (2233)

0 responses to “Action against 112 Companies for issue of Shares without compliance of law”

  1. Raju Gupta says:

    What a meaning of ERO WRO NRO. …

  2. K THYAGARAJAN says:

    VERY GOOOD INFORMATION. THANK U KIND REGARDS
    KTHYAGARAJAN, PRACTISING COMPANY SECRETARY

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