sebi:15389
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Facts / Headnote
BBPL and its promoters/directors/managers/persons in charge of the business of its schemes (as given in Annexure-A) debarred from accessing the securities market and prohibited from buying, selling or dealing in securities for 5 years from the date of the order.
Provisions invoked
- s. 11B
- s. 11(4)
- s. 19
- s. 12
Regulations
- Reg. 74
- Reg. 73
- Reg. 65
- Reg. 5
- Reg. 5(1)
- Reg. 68(1)
- Reg. 65(e)
Parties
- M/s. Botanist Biotech Projects Ltd.
- Mr. Gordan Harold Johnson
- Mr. Satyendra Lal Dey
- Mr Durgasankar Chakraborty
- Mr Paresh Chandra Sarkar
- Mr Arbinda Tirkey
- Shri. Paul Dennis Clarence
- Shri. Krishan Mohan Sahoo
- Shri. Avatar Singh
- Shri. Korada Srinivas Rao
Holding
BBPL was debarred from accessing the securities market and prohibited from buying, selling or dealing in securities for five years, along with its promoters, directors, managers, and persons in charge of its schemes, for non-compliance with the SEBI Act, 1992 and the SEBI (Collective Investment Schemes) Regulations, 1999. Shri S. L. Dey, a promoter-director during the period of fund mobilization, was also held liable despite his claimed resignation.
Full text
1. M/s. Botanist Biotech Projects Ltd. (hereinafter referred to as “BBPL”), having its Head Office at Kaushallya More, Kharagpur – 721301, West Bengal, had filed information / details with Securities and Exchange Board of India (hereinafter referred to as SEBI) regarding its Collective Investment Schemes pursuant to SEBI Press Release dated November 26, 1997 and / or public notice dated December 18,
5. As no compliance of the statutory requirement was reported even during the extended period, SEBI vide show cause notice dated May 12, 2000 directed BBPL to show cause as to why the actions mentioned therein be not initiated against it for the said violation/non compliance. However, BBPL neither replied to the show cause notice nor responded to the newspaper publication.
9. Further, SEBI vide its letter dated May 17, 2002 advised BBPL to submit the latest status in respect of the total repayments made to the investors along with the necessary details of repayment, mode of repayment, etc., duly certified by its statutory auditors within 15 days from the date of receipt of the letter. BBPL vide its letter dated June 14, 2002 while reiterating its submissions made vide letter dated December 30, 2000 submitted that it has complied with all the provisions of Regulation 73 of the said Regulations and reiterated its reply dated December 30, 2000 to the Order dated December 07, 2000.
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Source: SecMarx — sebi:15389. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.