PR No. 198/2015-Caution to 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 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

 Mumbai- July 31, 2015

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