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  • PR - Order in The Matter of M/s Mount Vision Industries India LTD

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    SEBI has passed an order directing Mount Vision Industries India Ltd not to mobilize funds from investors or issue any prospectus, offer document, or advertisements to solicit money from the public. The company and its directors are also prohibited from disposing of or encumbering company assets without SEBI permission. The debenture trustee, Mr. Manoj Kumar, is prohibited from continuing his assignment with Mount Vision or taking up new debenture assignments. Additionally, the company and its directors are restrained from accessing the securities market. The order was issued because the company mobilized funds through issuing debentures to more than 49 persons without complying with relevant laws.

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    PR - Order in the matter of M/s Mount Vision Industries India Ltd

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    SEBI has passed an order directing Mount Vision Industries India Ltd not to mobilize funds from investors or issue any prospectus, offer document, or advertisements to solicit money from the public. The company and its directors are also prohibited from disposing of or encumbering company assets without SEBI permission. The debenture trustee, Mr. Manoj Kumar, is prohibited from continuing his assignment with Mount Vision or taking up new debenture assignments. Additionally, the company and its directors are restrained from accessing the securities market. The order was issued because the company mobilized funds through issuing debentures to more than 49 persons without complying with relevant laws.

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    62 views1 page

    PR - Order in The Matter of M/s Mount Vision Industries India LTD

    Uploaded by

    Shyam Sunder
    SEBI has passed an order directing Mount Vision Industries India Ltd not to mobilize funds from investors or issue any prospectus, offer document, or advertisements to solicit money from the public. The company and its directors are also prohibited from disposing of or encumbering company assets without SEBI permission. The debenture trustee, Mr. Manoj Kumar, is prohibited from continuing his assignment with Mount Vision or taking up new debenture assignments. Additionally, the company and its directors are restrained from accessing the securities market. The order was issued because the company mobilized funds through issuing debentures to more than 49 persons without complying with relevant laws.

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    of 1

    PR No.

    118/2015

    Order in the matter of M/s Mount Vision Industries India Ltd

    Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an order dated
    April 22, 2015 in the matter of Mount Vision Industries India Ltd, inter-alia directing that the company shall not
    mobilize funds from investors. Further, the company and its directors 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.
    The Company and its directors have further been directed not to dispose off any of the properties or alienate or
    encumber any of the assets of the Company without prior permission from SEBI and not to divert any funds raised
    from public at large through the Offer of Non Convertible Redeemable Debenture, which are kept in bank account(s)
    and/or in the custody of the company.
    The Debenture Trustee, viz. Mount Vision Debenture Trust, represented by Mr. Manoj Kumar is prohibited from
    continuing with his present assignment as debenture trustee in respect of the Offer of Non Convertible Redeemable
    Debenture of the company and also from taking up any new assignment or involvement in any new issue of
    debentures, etc. in a similar capacity, from the date of this order till further directions.
    The company and its Directors, 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.
    The company was engaged in fund mobilizing activity through issue of Non Convertible Redeemable Debenture to
    more than 49 persons without complying with the relevant provisions of the Companies Act, 1956 and provisions of
    the SEBI (issue and Listing of Debt Securities) Regulations, 2008.
    The full text of the order is available on the website: www.sebi.gov.in

    Mumbai
    April 23, 2015

    Brought to you by http://StockViz.biz

    page: 1

    [ www.sebi.gov.in ]

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