| Order in the matter of Bhabiswajyoti Infrastructure India Limited |
To
All Trading Members of the Exchange
Sub: Final Order under Sections 11, 11(4),11A and 11B of the Securities and Exchange Board Of India Act,1992 in the matter of Bhabiswajyoti Infrastructure India Limited (BIIL)
Attention of the trading members is invited to the Exchange Notice No. 20150617-12 dated June 17, 2015 wherein SEBI vide its interim Order No. WTM/SR/WRO/ILO/18/06/2015 dated June 17, 2015 had inter-alia restrained BIIL and various other entities from accessing the securities market and further prohibited from buying, selling or otherwise dealing in the securities market, either directly or indirectly, till further directions.
SEBI, now vide its Order no. WTM/MPB/EFD-1-DRA-IV/38 /2019 dated April 10, 2019 has inter-alia issued the following directions:
- Directed BIIL, Mr. Prashant Sharma, Ms. Soma Sharma, Mr. Arindam Mukherjee, Mr. Mahindra Nath Chowdhury and Mr. Gopal Sharma, not to, directly or indirectly, access the securities market, by issuing prospectus, offer document or advertisement soliciting money from the public and are further restrained and prohibited from buying, selling or otherwise dealing in the securities market, directly or indirectly in whatsoever manner, from the date of this Order, till the expiry of 4 (four) years from the date of completion of refunds to investors as directed in the said order.
- Restrained Bhabiswajyoti Debenture Trust (represented by its trustees, viz. Mr. Sanjoy Chaudhuri), Mr. Mahesh Shaw and Mr. Srikumar Chakraborty from accessing the securities market and are further restrained from buying, selling or dealing in securities, in any manner whatsoever, for a period of 4 (four) years from the date of this order.
- Restrained Mr. Pradipta Chakraborty from accessing the securities market and is further restrained from buying, selling or dealing in securities, in any manner whatsoever, for a period of 4 (four) years, which shall come into effect on the expiry of three hundred and sixtieth (360) day of this order, if the order of the Competent Authority is not produced by Mr. Pradipta Chakraborty within such 360 days, or, if produced within such period, the same is not in favour of Mr. Pradipta Chakraborty. This direction shall not take effect, if the order of the Competent Authority is produced within such period and the same is in favour of Mr. Pradipta Chakraborty.
- Further as mentioned in the aforesaid order, it is clarified that during the period of restraint, the existing holding, including units of mutual funds, of the Noticees shall remain frozen.
The directions except at paragraph 63(l) shall come into force with immediate effect.
A copy of the said Order is attached herewith and available on the SEBI website www.sebi.gov.in.
Trading members are advised to take note of the same and ensure compliance.
Shaila Valsan Fahad Kapadia
Manager Assistant Manager
Surveillance Surveillance
Date: April 10, 2019
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