Order in the matter of M/s Yash Dream Real Estate Limited, its Promoters and Directors
Mr. Prashant Saran, Whole Time Member, SEBI has passed an interim order on December 16, 2014 in the matter of M/s Yash Dream Real Estate Limited, having its registered office at Block-1, Plot No.3, Priyadharshani Parisar (West), Bhilai – 490 020 (Chattisgarh) and its Promoters and Directors. As per the order, the company, its Promoters and directors Mr. Amit Kumar Shrivastava, Ms. Neeta Shrivastava, Mr. Nitin Shrivastava, Ms. ReebhaShrivastava, Ms. Sindhu Singadhe, Mr. Deepak Singare and Ms. PoojaTandan :-
a. are restrained from mobilizing funds through the issue of ‘unsecured optionally fully convertible bonds’, equity shares, debentures, preference shares or through issuance of any kind of security to the public and/ or invite subscription or deposit, in any manner whatsoever, either directly or indirectly, till further directions.
b. are prohibited from issuing prospectus or any offer document or issue advertisement for soliciting money from the public for the issue of securities, in any manner whatsoever, either directly or indirectly, till further orders.
c. shall not dispose off any of the properties or alienate the assets of the Company or dispose of any of their properties or alienate their assets.
d. shall not divert any funds raised from public at large through the issuance of unsecured optionally fully convertible bonds, kept in its bank accounts and/ or in the custody of the company without prior permission of SEBI, until further orders.
e. are restrained 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.
f. shall co-operate with SEBI and shall furnish documents, that are in their possession, which may be required by SEBI in the course of its examination. The Company, its promoters and directors shall provide a full inventory of all their assets and properties;
g. shall furnish all the information with regard to scheme wise list of investors, contact details, address along with details of investment and maturity, also, shall also provide details of refund, if any.
h. shall not promote any new company to mobilize fresh funds.
The company had issued Optionally Fully Convertible Bonds without complying with SEBI(Issue of Capital and Disclosure Requirements) Regulations, 2009 and other relevant provisions of Companies Act, 1956 and Companies Act, 2013 administered by SEBI.
The full text of the order is available on the website www.sebi.gov.in
