sebi:WTM/SR/ERO/14/01/2015
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Facts / Headnote
Interim directions issued restraining VIL and its directors from mobilizing funds, accessing securities market, and disposing of assets; debenture trustee prohibited from acting in similar capacity; noticees given 21 days to reply and seek personal hearing.
Provisions invoked
- s. 11
- s. 12(1)
- s. 55A
- s. 22
- s. 73
- s. 4A
- s. 30
- s. 67(3)
- s. 67
- s. 117B
- s. 56
- s. 67(1)
- s. 67(2)
- s. 73(1)
- s. 2(36)
- s. 60
- s. 73(2)
- s. 56(1)
- s. 117C
- s. 56(3)
Regulations
- Reg. 7
- Reg. 6
- Reg. 16
- Reg. 9
- Reg. 17
- Reg. 12
- Reg. 8
- Reg. 15
- Reg. 14
- Reg. 4(4)
- Reg. 4(2)(a)
- Reg. 19
- Reg. 26
- Reg. 4(2)(b)
- Reg. 4(2)(d)
- Reg. 4(2)(c)
- Reg. 5(2)(b)
Parties
- Vikdas Industries Limited (VIL)
- Shri Indranil Sinha
- Shri Debasish Das
- Shri Sandip Paul
- Shri Sachin Kumar Thakur
- Shri Jadunath Jena
- Shri Bhabagrahi Behera
- Shri Goutam Chatterjee
- Shri Ramen Chatterjee
- Vikdas Industries Debenture Trust (Shri Ranadeb De)
Holding
VIL prima facie violated the Companies Act, 1956 (Sections 56, 60 read with 2(36), 73, 117B, 117C) and the Debt Securities Regulations by making a public issue of NCDs to 206 investors without complying with prospectus registration, listing, and debenture trustee requirements; interim directions were issued against VIL, its directors, and its unregistered debenture trustee.
Full text
Page 2 of 15 c. Details regarding the number of application forms circulated inviting subscription; d. Details regarding the number of applications received; e. Details regarding the number of allottees and list of such allottees, etc.; f. Number of shares/debentures allotted and value of such allotment against each allottee's name. g. Details regarding subscription amount raised; h. Date of allotment of shares/debentures; i. Copies of the minutes of Board/Committee meeting in which the resolution has been passed for allotment; j. Date of dispatch of shares/debentures Certificates; k. Details of the total number of applicants for each of VIL's scheme besides the list of final allottee; l. Copies of application forms, pamphlets, advertisements and other promotional material circulated for issuance of shares/debentures; m. Terms and conditions of the issue of shares/debentures; n. Details of application for listing, if any, filed with stock exchanges; o. Copy of Form 2 and Form 10 filed with ROC; p. Details of Debenture Trustee.
Page 3 of 15 This is also (to) bring to your notice that our Company subsequently paid to the debenture Holder and list of redemption are being made out from our end and the next occasion we should produce the same for your reference."
Page 4 of 15 e. Who can Invest: Any person is associated with the marketing trust/Broker House." SCHEME – I Term (Months) Plan Name Min. Amount (₹ ) Interest Rate (%) Interest Amount Monthly Quarterly Half Yearly Yearly 24 A
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Source: SecMarx — sebi:WTM/SR/ERO/14/01/2015. 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.