Sebi Bars Kolkata-Based Golden Pariwar Holding & Developers

0
351

Kolkata: Markets regulator Sebi Wednesday barred Kolkata-based Golden Pariwar Holding and Developers and its seven promoters from raising funds from public with immediate effect for carrying out illegal fund mobilising activity. Besides, the regulator has also ordered the entities not to dispose of any assets or divert any funds raised from the public through mobilising funds.

The move comes after the regulator received a complaint from an individual that a fund mobilising activity was carried out by Golden Pariwar.

In an order, Sebi said Golden Pariwar issued redeemable preferential shares (RPS) to 54 and 66 persons during 2011 and 2012, respectively, collecting over Rs 11 lakh.

Since the shares were issued to more than 49 people, the offer of RPS qualified to be a ‘prima facie’ public issue and required compulsory listing of the securities on a recognised stock exchange. Among the other requirements, the firm was also required to register a prospectus with the Registrar of Companies (RoC) under the Companies Act.

-----
Previous articleI-League: Mohan Bagan Defeat Minerva Punjab
Next articleHuge Vacancy In West Bengal Health Recruitment Board, Hurry Up