sebi:WTM/SR/ERO/121/12/2014
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Facts / Headnote
Prima facie finding of public issue of Redeemable Preference Shares; interim directions restraining further mobilization, restraining access to securities market, freezing disposal/alienation/diversion of assets/funds, requiring full inventory and information within 21 days, effective immediately until further orders.
Provisions invoked
- s. 11
- s. 55A
- s. 22
- s. 73
- s. 4A
- s. 67(3)
- s. 67
- s. 56
- s. 73(2)
- s. 465
- s. 67(1)
- s. 67(2)
- s. 73(1)
- s. 2(36)
- s. 60
- s. 56(1)
- s. 56(3)
- s. 465(2)
- s. 73(3)
Regulations
- Reg. 111
- Reg. 111(1)
- Reg. 111(2)
Holding
SURAKSHA AGROTECH prima facie made a public issue of Redeemable Preference Shares to 13612 investors raising Rs.11,45,97,600 in violation of Sections 56, 60, 67 and 73 of the Companies Act, 1956 and DIP Guidelines/ICDR Regulations, and was therefore subjected to interim restraints on further fundraising, market access and asset disposal.
Full text
Page 2 of 14 b. Details regarding the number of application forms circulated inviting subscription for Preference Shares; c. Details regarding the number of applications received; d. Details regarding the number of allottees and list of such allottees; e. Number of Preference Shares allotted and value of such allotment against each allottee's name. f. Details regarding subscription amount raised; g. Date of allotment of the Preference Shares; h. Copies of the minutes of Board/Committee meeting in which the resolution has been passed for allotment; i. Date of dispatch of Preference Shares, etc.; j. Details of the total number of applicants for each of its scheme besides the list of final allottees; k. Copies of application forms, pamphlets, advertisements and other promotional material circulated for issuance of Preference Shares. l. Terms and conditions of the issue of Preference Shares.
Page 3 of 14 b. The present Directors of SURAKSHA AGROTECH are Shri Indranil Das (DIN- 00566904; PAN-AFTPD7822F), Shri Arunabha Mukhopadhyay (DIN-00566929; PAN- AEYPM2888J), Shri Akhil Chandra Saha (DIN-02243929; PAN- AQMPS4454N), and Shri Subrata Das (DIN-02262940; PAN-AJEPD3008L).
Page 4 of 14 Year Date of allotment Type of Security No of securities No. of persons to whom issued(approx) Total Amount (Rs)
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Source: SecMarx — sebi:WTM/SR/ERO/121/12/2014. 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.