Don’t miss the latest developments in business and finance.

Sebi bars GreenTouch Projects, 4 directors from securities mkt

Image
Press Trust of India Mumbai
Last Updated : Aug 07 2014 | 8:35 PM IST
Sebi today barred GreenTouch Projects and its three directors from the capital market for allegedly violating norms by raising funds through issue of non- convertible redeemable debentures.
GreenTouch Projects Ltd (GTPL) was found to have allegedly violated the Debt Securities Regulations as well as provisions of the Companies Act.
In an interim order, Sebi has restrained GTPL and its three directors from accessing the securities market till further directions.
The watchdog has also directed the company not to mobilise funds from investors through offer for NCDs (Non-Convertible Redeemable Debentures) issuance of equity shares or any other securities.
The four directors who have been barred are Shyam Sundar Dey, Snehasish Sarkar, Sujoy Saha and Sumon Sarkar.
Further, the company and these directors have been asked not to divert any funds raised from public at large through the NCDs.
"GreenTouch Projects Debenture Trust (represented by its Trustee, viz Swagata Kumar Maiti) is prohibited from continuing with its present assignment as a debenture trustee in respect of the offer of NCDs of GTPL and also from taking up any new assignment or involvement in any new issue of debentures, etc, in a similar capacity," the order said.

Also Read

First Published: Aug 07 2014 | 8:35 PM IST

Next Story