The ban will continue till further orders.
The Securities and Exchange Board of India (Sebi) found that the company had raised Rs 1.21 crore by issuing preference shares to 1,395 investors in 2008-09 and 2009-10.
Since the firm made issues securities to over 50 persons, which under the rules made it a public issue of debt securities and hence would require a compulsory listing on a recognised stock exchange. It was also required to file a prospectus, among others, which it failed to do.
They have been barred 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.
In addition, Sebi has imposed several restrictions on them.
These directions will take effect immediately and will be in force until further orders.