PR No. 59/2016

Caution to the Investors

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 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.

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 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

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