sebi:WTM/SR/ERO/60/09/2014
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Interim directions issued restraining BKSIL and its directors from mobilizing fresh funds, accessing the securities market, and disposing of assets; debenture trustees prohibited from continuing assignments
Provisions invoked
- s. 11
- s. 12(1)
- s. 55A
- s. 73
- s. 4A
- s. 30
- s. 67(3)
- s. 67
- s. 117B
- 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)
Regulations
- Reg. 7
- Reg. 6
- Reg. 9
- Reg. 17
- Reg. 12
- Reg. 8
- Reg. 15
- Reg. 14
- Reg. 4(4)
- Reg. 4(2)(a)
- Reg. 19
- Reg. 26
- Reg. 16(1)
- Reg. 4(2)(b)
- Reg. 4(2)(d)
- Reg. 4(2)(c)
- Reg. 5(2)(b)
Parties
- BKSIL (Bharat Krishi Secured Investments Limited)
- Shri Prabir Kumar Chattopadhyay
- Shri Pradip Kumar Das
- Shri Gulzar Ahmed
- Shri Firoz Hossain
- Bharat Krishi Secured Debenture Trust (Shri Swadesh Banerjee)
- Bharat Krishi Secured Debenture Development Trust (Shri Amit Samanta, Shri Jagdish Chandra Nag)
Holding
SEBI held prima facie that BKSIL's Offer of NCDs and Offer of Preference Shares were public issues made to fifty persons or more under the first proviso to Section 67(3) of the Companies Act, 1956, and issued interim directions restraining BKSIL, its directors, and its debenture trustees from further fund mobilization and securities market activity.
Full text
Page 2 of 16 c. Details regarding the number of applications received; d. Details regarding the number of allottees and list of such allottees; 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 share/debenture certificates; 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; j. Details of the total number of applicants for each of BKSIL's scheme besides the list of final allottees; 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. m. Confirmation of application for listing of securities with any of the stock exchanges. n. Copy of Form 2 and Form 10 filed with the ROC. o. Details of debenture trustee.
Page 3 of 16 i. BKSIL was incorporated on June 30, 2011, with the ROC, Kolkata, West Bengal with CIN No. as U74999WB2011PLC164406. BKSIL has its Office at 1st Floor, Fatma Court 59/C, Tiljala Road, Kolkata–700046, West Bengal, India.
Page 4 of 16 a. "The application can be made for a minimum amount of `1000 and in multiples of `10. b. This offer of Redeemable Preference Shares to Promoters/Directors, the employees, the share holder and their friends and relatives only on private placement basis. c. Size of Issue: `4.95 Crore d. Date of Issue Open: 06.07.2011."
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:WTM/SR/ERO/60/09/2014. 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.