sebi:WTM/MPB/EFD-1-DRA-IV/22/2018
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Facts / Headnote
AAPL and directors Aloke Das, Nabarun Dutta, Sheke Ajger Ali, Debasish Dutta, Sheke Jasmir Hossain, Gouri Dutta and Sekh Jasim Hossain directed to forthwith refund amounts collected via RPS with 15% p.a. interest from 8th day of collection and debarred from securities market for 4 years from completion of refunds; promoters Santanu Das and SK Mansur Ali debarred for 4 years from date of Order; directions subject to Calcutta High Court orders dated August 12, 2016 and March 1, 2017.
Provisions invoked
- s. 19
- s. 55A
- s. 73
- s. 28A
- s. 4A
- s. 67(3)
- s. 67
- s. 56
- s. 73(2)
- s. 67(1)
- s. 67(2)
- s. 73(1)
- s. 2(36)
- s. 60
- s. 27(2)
- s. 56(1)
- s. 56(4)
- s. 73(3)
Regulations
- Reg. 107
Parties
- M/s Assda Agro Projects Limited
- Aloke Das
- Nabarun Dutta
- Sheke Ajger Ali
- Debasish Dutta
- Sheke Jasmir Hossain
- Gouri Dutta
- Sekh Jasim Hossain
- Santanu Das
- SK Mansur Ali
Holding
AAPL's offer and allotment of Redeemable Preference Shares to at least 97 investors raising at least Rs. 69,13,500 in 2010-2011 to 2012-2013 was a deemed public issue violating sections 56(1), 56(3), 60, 73(1), 73(2) and 73(3) of the Companies Act, 1956, and AAPL with its past and present directors are jointly and severally liable to refund with 15% interest while all Noticees are restrained from the securities market.
Full text
Order in the matter of M/s Assda Agro Projects Limited Page 2 of 24 Companies–Kolkata with CIN: U01400WB2010PLC150776. Its registered office is at 69, B.T. Road, PO Panihati, Gopal Kunja Bhavan Kolkata, Parganas North, WB 700114.
Order in the matter of M/s Assda Agro Projects Limited Page 3 of 24 Year of Issue Security issued Amount raised (Rs.) Number of allottees 2010-2011 RPS 61,67,000
Order in the matter of M/s Assda Agro Projects Limited Page 4 of 24 iii. AAPL and the above named Directors and promoter shall co-operate with SEBI and shall furnish all information/documents in connection with the offer and allotment of preference shares sought vide letters dated July 22, 2013 & January 30, 2014.
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Source: SecMarx — sebi:WTM/MPB/EFD-1-DRA-IV/22/2018. 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.