| Final Order in the matter of Siyaram Development and Construction Limited (SDCL) |
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 Siyaram Development and Construction Limited (SDCL)
Attention of the trading members is invited to the Exchange Notice No. 20150717-18 dated July 17, 2015 wherein SEBI vide its interim Order No. WTM/SR/SEBI – SRO:BLO/IMD/146/07/2015 dated July 17, 2015 had inter-alia restrained SDCL 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-I-DRA-IV/40/2019 dated April 16, 2019 has inter-alia issued the following directions:
- Directed SDCL, Mr. Prasanta Bera, Mr. Biraja Bera and Ms. Paromita Dey (PAN: APXPD1588E) 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 order. The above said Directors are also restrained from associating themselves with any listed public company and any public company which intends to raise money from the public, or any intermediary registered with SEBI from the date of this Order till the expiry of 4 (four) years from the date of completion of refunds to investors.
- Directed Mr. Biswajit Roy, Mr. Arun Sardar, Mr. Aravinda Mondal (PAN: CBDPM8120M), Mr. Sridhar Mukherjee (PAN: BGVPM9717L) and Mr. Abdul Mandal 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 for a period of 4 (four) years from the date of this Order. The above said Directors are also restrained from associating themselves with any listed public company and any public company which intends to raise money from the public, or any intermediary registered with SEBI for a period of 4 (four) years from the date of this order.
- Restrained Ms. Kalpana Guha 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 from the date of this order.
- In view of prohibition on sale of securities, It is clarified that during the period of restraint, the existing holding, including units of mutual funds, of the Noticees shall remain frozen.
Further as stated in the said order, this order will come into effect with respect to Mr. Aravinda Mondal and Mr. Sridhar Mukherjee on the expiry of three hundred and sixty fifth (365) day of this order, if the order of the Competent Authority is not produced by Mr. Aravinda Mondal and Mr. Sridhar Mukherjee within such 365 days, or, if produced within such period, the same is not in favour of Mr. Aravinda Mondal and Mr. Sridhar Mukherjee. 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. Aravinda Mondal and Mr. Sridhar Mukherjee.
For the rest of the Noticees, the directions 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 Avijit Sarkar
Manager Assistant Manager
Surveillance Surveillance
Date: April 16, 2019
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