sebi:WTM/SR/ERO/15/01/2015
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Facts / Headnote
Interim directions restraining PPIL and its directors from mobilizing funds, requiring asset inventories, and prohibiting the Debenture Trustee from acting in such capacity, pending further orders
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
- PPIL
- Shri Kaizar Biswas
- Shri Mohammad Jiyaur Rahaman
- Shri Abu Sama Molla
- Shri Ashraful Hoque
- Shri Ajijur Rahaman
- Prayas Debenture Trust
Holding
PPIL's offer of NCDs to 154 investors was prima facie a public issue under the first proviso to Section 67(3) of the Companies Act, 1956, requiring compliance with listing, prospectus registration, and debenture trustee provisions, and interim directions were issued restraining PPIL, its directors, and its debenture trustee from further fund mobilization.
Full text
Page 2 of 15 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 PPIL'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 c. Details regarding the number of application forms circulated inviting subscription/received; d. Details regarding the number of allottees and list of such allottees, etc; e. Number of shares/debentures allotted and value of such allotment against each allottee's name. f. Details regarding subscription amount raised; g. Date of allotment of shares/debentures; h. Copies of the minutes of Board/Committee meeting in which the resolution has been passed for allotment; i. Date of dispatch of shares/debentures Certificates; j. Details of the total number of applicants for each of PPIL's scheme besides the list of final allottee; k. Copies of application forms, pamphlets, advertisements and other promotional material circulated for issuance of shares/debentures; l. Terms and conditions of the issue of shares/debentures.
Page 4 of 15 ii. The present Directors in PPIL are Shri Kaizar Biswas, Shri Mohammad Jiyaur Rahaman, Shri Ashraful Hoque and Shri Abu Sama Molla.
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Source: SecMarx — sebi:WTM/SR/ERO/15/01/2015. 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.