sebi:WTM/RKA/EFD/186/2016
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Facts / Headnote
Company and directors held liable for contravention of Companies Act, 1956 and ILDS Regulations; directed to refund subscription money with 15% p.a. interest; market access barred for four years or till refund, whichever is later; Debenture Trust and Mr. Dinesh Ch. Ghosh held guilty of unregistered debenture trusteeship.
Provisions invoked
- s. 19
- s. 12(1)
- s. 73
- s. 28A
- s. 67(3)
- s. 56
- s. 73(2)
- s. 291
- s. 2(36)
- s. 60
- s. 56(1)
- s. 56(4)
Regulations
- Reg. 7
- Reg. 4(2)(a)
Parties
- Megasys Healthcare Limited
- Shri Manish Roy
- Mr. Anil Pandey
- Mr. Barun Biswas
- Mr. Tufan Kumar Pramanik
- Smt. Susmita Roychoudhary
- Mr. Prabir Sengupta
- Mr. Kabir Roy
- Megasys Healthcare Debenture Trust
- Mr. Dinesh Ch. Ghosh
Holding
Megasys Healthcare Limited and its directors were held liable for contravening sections 56, 60, 73, 117B and 117C of the Companies Act, 1956 and the ILDS Regulations by making a public issue of NCDs without compliance, and were directed to refund subscription money with 15% p.a. interest and barred from the securities market for four years or till refund. Megasys Healthcare Debenture Trust and Mr. Dinesh Ch. Ghosh were held guilty of acting as unregistered debenture trustees in violation of section 12(1) of the SEBI Act and regulation 7 of the Debenture Trustees Regulations.
Full text
In respect of Megasys Healthcare Limited Page 2 of 9 Companies Act, 1956 (Section 56, Section 60 read with Section 2(36), Section 73, Sections 117B– 117C) read with the Debt Securities Regulations”.
In respect of Megasys Healthcare Limited Page 3 of 9 NCDs of MHL and also from taking up any new assignment or involvement in any new issue of debentures, etc. in a similar capacity, from the date of this order till further directions.”
In respect of Megasys Healthcare Limited Page 4 of 9 7. Thereafter, SEBI vide letters dated September 22, 2016 informed the noticees that they were afforded an opportunity of personal hearing on October 18, 2016. SEBI also made a public notice in newspapers (on August 28, 2016 and August 29, 2016 in Times of India, Ananda Bazar Patrika and Dainik Bhaskar) regarding the interim order and advised the noticees that a final opportunity of being
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Source: SecMarx — sebi:WTM/RKA/EFD/186/2016. 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.