SEBI issues list of 193 defaulting Companies

PR No. 198/2015-Caution to Investors 1. Some unlisted companies are luring retail investors by issuing securities including non-convertible and convertible debentures/ non-convertible and convertible preference shares/ equity shares in the garb of private placement, without complying with the provisions of Companies Act, 1956 read with the Companies Act, 2013, SEBI (Issue and Listing of Debt Securities), Regulations, 2008, SEBI (Issue and Listing of Non-Convertible Redeemable Preference Shares), Regulations, 2013 and SEBI (Issue of capital and Disclosure Requirements) Regulations, 2009. 2. Any offer of securities made to 50 or more persons has to be construed as a “Public Offer” under the provisions of Companies Act, 1956. 3. Under Companies Act, 2013, “Private Placement” shall be made only to such persons whose names are recorded by the company prior to the invitation to subscribe. Further, in case of private placements, the company shall not release any public advertisements or utilise any media, marketing or distribution channels or agents to inform the public at large about such an offer. Further, such offer or invitation shall not be made to more than 200 persons in the aggregate in a financial year 4. As per the provisions of Companies Act, 2013 and SEBI Regulations, no issuer shall make public issue of these securities, unless it has made application to the recognized Stock Exchange(s) for listing of such securities. Further, the issuer, among the other things, is required to file the offer document with RoC/Stock Exchange/SEBI etc. The issuer has to make disclosures about the issuer company, the promoters of the company, the risk factors etc. 5. SEBI has taken action against 193 such entities for issuance of securities in the form of non-convertible and convertible preference shares/ non-convertible and convertible debentures/ equity shares to public, without complying with the prescribed provisions of law as referred in Para 1, 2, 3 and 4 above. 6. List of the Companies against whom orders have been passed by SEBI is given below with this press release. The orders are also available on SEBI website at www.sebi.gov.in 7. SEBI has also passed orders against entities/ individuals who have acted as debenture trustees for debt issuance of companies without being registered with SEBI as Debenture Trustee as per SEBI Act, 1992. 8. Companies are cautioned not to issue securities to public without complying with provisions of law as referred in Para 1, 2, 3 and 4 above, failing which SEBI will be constraint to take stringent action against such companies and their directors. 9. Investors are also cautioned not to subscribe to such issues. Investors are advised to see whether any such entity has filed offer document or filed application with Stock Exchange for listing. 10. Individuals/Entities acting as Debenture Trustees without being registered with SEBI, are advised not to act in the said capacity. Order passed in respect of Deemed public issues U/s 67 of the Companies Act, 1956 Sr. No. Name of the Entity Location of the Entity Date of Order 1 Kunnamkulam Paper Mills Limited Kerala 10.04.2003 2 Sahara India Real Estate Corporation Limited Uttar Pradesh 23.06.2011 3 Sahara Housing Investment Corporation Limited Maharashtra 23.06.2011 4 SGI Research and Analysis Limited Delhi 11.01.2013 5 Basil International Limited Delhi 06.02.2015 6 Rhine and Raavi Credits and Holdings Limited Delhi 27.03.2015 7 Alchemist Holding Limited Delhi 20.09.2013 8 Vibgyor Allied Infrastructure Limited West Bengal 20.02.2014 9 Kolkata Weir Industries Limited West Bengal 30.04.2014 10 Ramel Industries Limited West Bengal 15.05.2014 11 Aspen Projects India Limited West Bengal 05.06.2014 12 Golden Life Agro India Limited West Bengal 07.01.2015 13 Greater Kolkata Infrastructure Limited West Bengal 06.02.2015 14 GSHP Realtech Limited West Bengal 18.03.2015 15 Promotech Infratech Limited West Bengal 05.03.2015 16 Mega Mould India Limited West Bengal 05.03.2015 17 Seashore Securities Limited Odisha 23.07.2014 18 Icore-E-services Limited West Bengal 25.07.2014 19 PAFL Industries Limited West Bengal 31.07.2014 20 Sunplant Constructions Limited West Bengal 24.07.2014 21 Ramel Real Estate Infrastructure Limited West Bengal 06.08.2014 22 MBK Business Development (India) Limited West Bengal 07.08.2014 23 GreenTouch Projects Limited West Bengal 07.08.2014 24 Falkon Industries India Limited West Bengal 08.08.2014 25 Ravi Kiran Realty India Limited West Bengal 08.08.2014 26 Multi-Purpose Bios India Limited West Bengal 14.08.2014 27 Progress Cultivation Limited West Bengal 14.08.2014 28 Pinnacle Ventures India Limited West Bengal 24.07.2015 29 Magnox Indraprojects Limited West Bengal 22.08.2014 30 Amrit Projects (N.E) Limited Assam 22.08.2014 31 Bharat Krishi Samridhi Industries Limited West Bengal 05.09.2014 32 Amrit Projects Limited West Bengal 09.09.2014 33 Rising Agrotech Limited West Bengal 09.09.2014 34 Purusattam Infotech Industries Limited West Bengal 09.09.2014 35 SEBA Real Estate Limited Assam 10.09.2014 36 Torsa Agro Projects Limited West Bengal 12.09.2014 37 Wierd Industries Limited West Bengal 15.09.2014 38 Weird Infrastructure Corporation Limited Uttar Pradesh 24.09.2014 39 Life Care Real Developers Limited New Delhi 29.09.2014 40 Vamshi Chemicals Limited New Delhi 30.10.2014 41 Life Care Infra Tech Limited Uttar Pradesh 03.11.2014 42 Regenix Drugs Limited Tamilnadu 10.11.2014 43 Real Tulip India Limited Madhya Pradesh 11.11.2014 44 Newland Agro Industries Limited West Bengal 20.11.2014 45 Sunheaven Agro India Limited West Bengal 20.11.2014 46 Micro Leasing and funding Limited Bhubaneshwar 21.11.2014 47 Angel Rural Deveopment Limited Madhya Pradesh 21.11.2014 48 Prism Infracon Limited West Bengal 24.11.2014 49 NVD Solar Limited West Bengal 27.11.2014 50 Sampriti Projects Limited West Bengal 28.11.2014 51 Vista Management Services Limited Odisha 01.12.2014 52 Kolkata Aryan Food Industries Limited West Bengal 01.12.2014 53 Federal Agro Commercial Limited Odisha 01.12.2014 54 Waris Agrotech (India) Limited West Bengal 01.12.2014 55 Swarnabhumi Developers Limited West Bengal 02.12.2014 56 Bharatiya Real Estate Development Limited West Bengal 02.12.2014 57 SLB Invest (India) Limited Odisha 03.12.2014 58 Orchid Cultivation Projects India Limited West Bengal 03.12.2014 59 Aditya Global Industries Limited West Bengal 03.12.2014 60 Greenworld Agro Industries Limited [earlier known as Bangadisha Projects Limited ) West Bengal 04.12.2014 61 Mass Infra Realty Limited West Bengal 04.12.2014 62 Alchemist Capital Limited (formerly known as Toubro Holdings Limited ) Chandigarh 08.12.2014 63 Midas Touch Assets and Securities Limited Odisha 09.12.2014 64 Yash Dream Real Estate Limited Chhattisgarh 16.12.2014 65 Adorable Agrotech Limited West Bengal 15.12.2014 66 Mondal Constructions Company Limited West Bengal 15.12.2014 67 Option One Industries Limited Madhya Pradesh 16.12.2014 68 Just Reliable Projects India Limited West Bengal 16.12.2014 69 Vaibhav Pariwar India Projects Limited West Bengal 29.12.2014 70 Suraksha Agrotech Industries Limited West Bengal 29.12.2014 71 Silicon Projects Limited West Bengal 06.01.2015 72 Infinity Realcon Limited West Bengal 07.01.2015 73 Dynamic Asset Management Limited Odisha 09.01.2015 74 Micro Finance Limited Odisha 14.01.2015 75 MPA Agro – Animals Projects Limited West Bengal 21.01.2015 76 Megasys Medi Life Limited West Bengal 28.01.2015 77 Chakra Infrastructure Limited West Bengal 29.01.2015 78 Krutibibha Corporation Limited Odisha 29.01.2015 79 Vikdas Industries Limited West Bengal 29.01.2015 80 Prayas Projects India Limited West Bengal 30.01.2015 81 Amazon Agro Products Limited West Bengal 30.01.2015 82 Sarada Pleasure and Adventure Limited Bihar 02.02.2015 83 Hooghly Agrotech Limited West Bengal 11.02.2015 84 Sukhchain Hire Purchase Limited Madhya Pradesh 11.02.2015 85 Adamant Infrastructure Limited Madhya Pradesh 11.02.2015 86 Suvidha Land Developers India Limited Madhya Pradesh 12.02.2015 87 ATM Agro Industries India Limited West Bengal 12.02.2015 88 ATM Agro Projects India Limited West Bengal 12.02.2015 89 AM Fund Managers Limited Odisha 20.02.2015 90 Rightmax Technotrade International Limited Karnataka 20.02.2015 91 GBC Enterprise Limited West Bengal 20.02.2015 92 Nirmal Infrahome Corporation Limited Chhattisgarh 20.02.2015 93 Dreamland Industries Limited West Bengal 24.02.2015 94 Tribhuvan Agro projects Limited West Bengal 24.02.2015 95 Target People Social Security Scheme Micro Finance Limited Tamil Nadu 04.03.2015 96 Fishermen Development Micro Finance Limited Tamil Nadu 04.03.2015 97 ERIL Mutual Benefit India Limited Jharkhand 04.03.2015 98 Asoka Life Science Limited West Bengal 11.03.2015 99 Golden Heaven Agro Project India Limited West Bengal 12.03.2015 100 Maxbe Green Provision Limited West Bengal 13.03.2015 101 Jeevan Suraksha Real Estate Limited West Bengal 13.03.2015 102 Real Sunshine Corp Limited and its Directors Madhya Pradesh 13.03.2015 103 Rista Fisheries and Infrastructure Limited West Bengal 16.03.2015 104 Cell Industries Limited West Bengal 17.03.2015 105 Astha Green Energy Ventures India Limited Telangana 17.03.2015 106 Sunshine Hi-Tech Infracon Limited Gujarat 17.03.2015 107 URO Hygeinic Goods Limited West Bengal 19.03.2015 108 URO Infotech Limited West Bengal 19.03.2015 109 URO Life care Limited West Bengal 19.03.2015 110 URO Walkers Limited West Bengal 19.03.2015 111 URO Infra Realty India Limited West Bengal 19.03.2015 112 Adarsh Wealth Ventures Limited Odisha 19.03.2015 113 Astha Techno Realty India Limited West Bengal 19.03.2015 114 MARS Agrofarm Developers Limited West Bengal 19.03.2015 115 Goldmine Food Products Limited West Bengal 19.03.2015 116 SCL Steel Corporation Lilmited Madhya Pradesh 19.03.2015 117 Infocare Infra Limited West Bengal 19.03.2015 118 Real Agri Industries and Services Limited West Bengal 20.03.2015 119 Hum Projects Limited West Bengal 20.03.2015 120 Real Vision International Limited Odisha 20.03.2015 121 Tresty Securities Limited Odisha 20.03.2015 122 Everlight Realcon Infrastructure Limited Jharkhand 20.03.2015 123 Shivalik Cotex Limited Delhi 27.03.2015 124 Green India Infra Projects Odisha 27.03.2015 125 Equinox Infratech Limited Madhya Pradesh 30.03.2015 126 Idol India Infrastructures Limited Madhya Pradesh 19.05.2014 127 Morningstar Ventures Limited West Bengal 30.03.2015 128 Affiance Industries Limited West Bengal 31.03.2015 129 I-Nova Solutions Limited West Bengal 31.03.2015 130 Polaris Agro Industries Limited West Bengal 01.04.2015 131 Sunshine Infrabuild Corporation Limited Delhi 01.04.2015 132 Mangalam Agro Products Limited West Bengal 06.04.2015 133 Pious Agro Industries Limited West Bengal 17.04.2015 134 Fantasy Infraventure and Agrimart Limited Uttar Pradesh 30.03.2015 135 Angela Agrotech Limited West Bengal 21.04.2015 136 Mount Vision Industries India Limited Madhya Pradesh 22.04.2015 137 Sankalp Projects Limited West Bengal 24.04.2015 138 Nixcil Pharmaceuticals Specialities Limited Uttar Pradesh 24.04.2015 139 Phenix Properties Limited Assam 24.04.2015 140 Sunplant Forgings Limited West Bengal 29.04.2015 141 Great Overseas Commodeal Limited West Bengal 06.05.2015 142 Bishal Horticulture and Animal Projects Limited West Bengal 06.05.2015 143 Bishal Distillers Limited West Bengal 06.05.2015 144 Bishal Agri–Bio Industries Limited West Bengal 06.05.2015 145 Bishal Abasan India Limited West Bengal 06.05.2015 146 Suraksha Industries India Limited Bihar 07.05.2015 147 Nava Diganta Capital Services Limited Odisha 07.05.2015 148 Waris Healthcare Limited West Bengal 07.05.2015 149 Subha Commercial Services Limited Tripura 08.05.2015 150 MRS Agrotech India Limited Madhya Pradesh 08.05.2015 151 RBX Land Developers India Limited Madhya Pradesh 12.05.2015 152 Gulshan Nirman India Limited Chhattisgarh 12.05.2015 153 Wasankar Wealth Management Limited Maharashtra 18.05.2015 154 Verinder Finance Limited Jammu and Kashmir 20.5.2015 155 Amazan Capital Limited West Bengal 25.05.2015/ 29.05.2015 156 Dolphin Universal Rural Development Limited Madhya Pradesh 27.05.2015 157 Cemendia Infrastructures Limited Madhya Pradesh 29.05.2015 158 Sun-Plant Business Limited West Bengal 03.06.2015 159 Neesa Technologies Limited Gujarat 03.06.2015 160 ASSR Agro India Limited West Bengal 04.06.2015 161 STPL Infrastructures Limited Madhya Pradesh 05.06.2015 162 AVM Real Estate and Allied Limited Chhattisgarh 05.06.2015 163 Polaris Realtors IndiaLimited Madhya Pradesh 15.06.2015 164 Bhabiswajyoti Infrastructure India Limited Madhya Pradesh 17.06.2015 166 Gitanjali Udyog Limited West Bengal 17.06.2015 167 Cell Realcon Corporation Limited Madhya Pradesh 17.06.2015 168 Eris Energy Limited Madhya Pradesh 18.06.2015 170 Greenbang Agro Limited West Bengal 18.06.2015 171 Goldmine Agro Limited West Bengal 19.06.2015 172 Goldmine Industries Limited Madhya Pradesh 22.06.2015 173 Omisha Agri Industries (India) Limited Madhya Pradesh 22.06.2015 174 Waris Finance and Investment Limited West Bengal 23.06.2015 175 Jugantor Realty Limited West Bengal 23.06.2015 176 Matribhumi Projects (I) Limited West Bengal 23.06.2015 177 Annex Infrastructure India Limited West Bengal 24.06.2015 178 Active Rural Development India Limited Madhya Pradesh 25.06.2015 179 United Medicine and Surgical Industries Limited West Bengal 25.06.2015 180 Angel Allied India Limited Punjab 29.06.2015 181 Life Care Infrastructures India Limited Madhya Pradesh 29.06.2015 182 Vishwamitra International Infra Limited Madhya Pradesh 30.06.2015 183 Shah Group Builders Limited Maharashtra 01.07.2015 184 Megasys Healthcare Limited Madhya Pradesh 02.07.2015 185 Aspen Nirman India Limited Madhya Pradesh 15.07.2015 186 Siyaram Development and Construction Limited Karnataka 17.07.2015 187 Swasata Steel Industries Limited West Bengal 17.07.2015 188 Madurai Rural Development Transformation India Limited Tamilnadu 17.07.2015 190 Madurai Rural Development Benefit Fund (India) Limited Tamilnadu 17.07.2015 191 Togo Retail Marketing Limited Delhi 22.07.2015 192 Pailan Park Development Authority Limited West Bengal 27.07.2015 193 Pailan Agro India Limited Jharkhand 27.07.2015 Mumbai- July 31, 2015