WTM/

PS/
153/
EROI
MD/
FEB/
2016
BEFORETHESECURI
TI
ESANDEXCHANGEBOARDOFI
NDI
A
CORAM:PRASHANTSARAN,
WHOLETI
MEMEMBER
ORDER
Undersect
i
ons11,
11(
4)
,
11Aand11Boft
heSecur
i
t
i
esandExchangeBoar
dofI
ndi
a
Act
,
1992,
I
nr
espectof1.Ramel
Real
Est
at
e
and
I
nf
r
ast
r
uct
ur
e
U45400WB2009PLC138901,
PAN:AAECR6852L)

Li
mi
t
ed

(
CI
N:

andi
t
sDi
r
ect
or
s,
2.Mr
.Remendr
aMohanSar
kar(
DI
N:01753154,
PAN:
AUI
PS3363G)
,
3.Mr
.RameswarPodder(
DI
N:01753196,
PAN:AFVPP4292B)
,
4.Mr
.Sukant
aDeb(
DI
N:01753238,
PAN:AJI
PD0118R)and
5.Mr
.Par
t
haDas(
DI
N:03631995,
PAN:ANMPD8317J)
;
6.Debent
ur
et
r
ust
ee,RamelRealEst
at
e and I
nf
r
ast
r
uct
ur
e Debent
ur
e Tr
ust
(
r
epr
esent
edbyi
t
sTr
ust
ee,
vi
z.Mr
.Sanj
oyDeb)
.

1.

Secur
i
t
i
esandExchangeBoar
dofI
ndi
a(

SEBI

)
,vi
deanexpar
t
ei
nt
er
i
m Or
der

dat
edAugust06,
2014(

i
nt
er
i
m or
der

)pr
i
maf
aci
eobser
vedt
hatt
hecompany,
Ramel
RealEst
at
eandI
nf
r
ast
r
uct
ur
eLi
mi
t
ed(

t
heCompanyor
RREI
L
)i
sengagedi
nf
und
mobi
l
i
zat
i
onact
i
vi
t
yf
r
om t
hepubl
i
ct
hr
ought
heof
f
erofNonConver
t
i
bl
eDebent
ur
es
(

NCDs
)i
nvi
ol
at
i
onofsect
i
ons56,60,73,117Band117Coft
heCompani
esAct
,
1956r
eadwi
t
ht
heCompani
esAct
,2013andt
hepr
ovi
si
onsoft
heSEBI(
I
ssueand
Li
st
i
ngofDebtSecur
i
t
i
es)Regul
at
i
ons,2008(

t
heI
LDSRegul
at
i
ons
)
. Thei
nt
er
i
m
or
deral
soal
l
egedt
hatt
hedebent
ur
et
r
ust
ee,RamelRealEst
at
eandI
nf
r
ast
r
uct
ur
e
Debent
ur
eTr
ust(
r
epr
esent
edbyi
t
sTr
ust
ee,vi
z.Mr
.Sanj
oyDeb)hadal
l
egedl
yf
ai
l
ed
t
omeett
heel
i
gi
bi
l
i
t
ycondi
t
i
onsspeci
f
i
edunderr
egul
at
i
on7oft
heSEBI(
Debent
ur
e
Tr
ust
ees)Regul
at
i
ons,1993 (
"
DT Regul
at
i
ons"
)and act
ed as an unr
egi
st
er
ed
debent
ur
et
r
ust
eei
nvi
ol
at
i
onofsect
i
on12(
1)oft
heSecur
i
t
i
esandExchangeBoar
dof
Page1of1

I
ndi
aAct
,
1992(

SEBIAct

)
.
2.

I
n or
dert
o pr
ot
ectt
he i
nt
er
estofi
nvest
or
s who had subscr
i
bed t
o such

secur
i
t
i
esof
f
er
edandi
ssuedbyt
heCompanyandt
opr
eventt
heCompanyandi
t
s
di
r
ect
or
sf
r
om cont
i
nui
ng wi
t
ht
hei
runl
awf
ulf
und mobi
l
i
zat
i
on f
r
om publ
i
c,SEBI
i
ssuedt
hef
ol
l
owi
ngdi
r
ect
i
onsvi
det
hei
nt
er
i
m or
der
:

9.

I
nvi
ewoft
hef
or
egoi
ng,I
,i
nexer
ci
seoft
hepower
sconf
er
r
eduponme
underSect
i
ons11,11(
4)
,11Aand11Boft
heSEBIActr
eadwi
t
ht
heDebt
Secur
i
t
i
esRegul
at
i
onsandt
heDebent
ur
eTr
ust
eeRegul
at
i
ons,her
eby
i
ssuet
hef
ol
l
owi
ngdi
r
ect
i
ons
i
.

RREI
Lshal
lnotmobi
l
i
zef
undsf
r
om i
nvest
or
st
hr
ought
heOf
f
erof
NCDs ort
hr
ough t
he i
ssuance ofequi
t
yshar
es oranyot
her
secur
i
t
i
es,t
ot
hepubl
i
cand/
ori
nvi
t
esubscr
i
pt
i
on,i
nanymanner
what
soever
,
ei
t
herdi
r
ect
l
yori
ndi
r
ect
l
yt
i
l
lf
ur
t
herdi
r
ect
i
ons;

i
i
.

RREI
Landi
t
sDi
r
ect
or
s,vi
z.Shr
iRemendr
aMohanSar
kar(
DI
N:
01753154)
,Shr
iRameswarPodder(
DI
N:01753196)
,Shr
iSukant
a
Deb(
DI
N:01753238)andShr
iPar
t
haDas(
DI
N:03631995)
,ar
e
pr
ohi
bi
t
edf
r
om i
ssui
ngpr
ospect
usoranyof
f
erdocumentori
ssue
adver
t
i
sementf
orsol
i
ci
t
i
ngmoneyf
r
om t
hepubl
i
cf
ort
hei
ssueof
secur
i
t
i
es,i
nanymannerwhat
soever
,ei
t
herdi
r
ect
l
yori
ndi
r
ect
l
y,
t
i
l
lf
ur
t
herdi
r
ect
i
ons;

i
i
i
.

RREI
L and i
t
s abovement
i
oned Di
r
ect
or
s,ar
er
est
r
ai
ned f
r
om
accessi
ng t
he secur
i
t
i
es mar
ketand f
ur
t
herpr
ohi
bi
t
ed f
r
om
buyi
ng,sel
l
i
ngorot
her
wi
sedeal
i
ngi
nt
hesecur
i
t
i
esmar
ket
,ei
t
her
di
r
ect
l
yori
ndi
r
ect
l
y,
t
i
l
lf
ur
t
herdi
r
ect
i
ons;

i
v.

RREI
Lshal
lpr
ovi
deaf
ul
li
nvent
or
yofal
li
t
sasset
sandpr
oper
t
i
es;

v.

RREI
L'
sabovement
i
onedDi
r
ect
or
sshal
lpr
ovi
deaf
ul
li
nvent
or
yof
al
lt
hei
rasset
sandpr
oper
t
i
es;

vi
.

RREI
Landi
t
sabovement
i
onedDi
r
ect
or
sshal
lnotdi
sposeofany
Page2of2

oft
he pr
oper
t
i
es oral
i
enat
e orencumberany oft
he asset
s
owned/
acqui
r
ed byt
hatcompanyt
hr
ough t
he Of
f
erofNCDs,
wi
t
houtpr
i
orper
mi
ssi
onf
r
om SEBI
;
vi
i
. RREI
Landi
t
sabovement
i
onedDi
r
ect
or
sshal
lnotdi
ver
tanyf
unds
r
ai
sedf
r
om publ
i
catl
ar
get
hr
ought
heOf
f
erofNCDs,whi
char
e
kepti
nbankaccount
(
s)and/
ori
nt
hecust
odyofRREI
L;
vi
i
i
. Ramel Real Est
at
e and I
nf
r
ast
r
uct
ur
e Debent
ur
e Tr
ust
(
r
epr
esent
edbyi
t
sTr
ust
ee,vi
z.Mr
.Sanj
oyDeb)i
spr
ohi
bi
t
edf
r
om
cont
i
nui
ngwi
t
hhi
spr
esentassi
gnmentasadebent
ur
et
r
ust
eei
n
r
espectoft
heOf
f
erofNCDsofRREI
Landal
sof
r
om t
aki
ngupany
new assi
gnmentori
nvol
vementi
nanynew i
ssueofdebent
ur
es,
et
c.i
nasi
mi
l
arcapaci
t
y,f
r
om t
hedat
eoft
hi
sor
dert
i
l
lf
ur
t
her
di
r
ect
i
ons.
10. Theabovedi
r
ect
i
onsshal
lt
akeef
f
ecti
mmedi
at
el
yandshal
lbei
nf
or
ce
unt
i
lf
ur
t
heror
der
s
.

3.

Forsakeofconveni
ence,t
heCompany,i
t
sdi
r
ect
or
sRemendr
aMohanSar
kar
,

RameswarPodder
,Sukant
aDebandPar
t
haDas,i
t
sdebent
ur
et
r
ust
ee,RamelReal
Est
at
eandI
nf
r
ast
r
uct
ur
eDebent
ur
eTr
ust(
r
epr
esent
edbyi
t
sTr
ust
ee,
Mr
.Sanj
oyDeb)
ar
ecol
l
ect
i
vel
yr
ef
er
r
edt
oas
t
henot
i
cees
.Thei
nt
er
i
m or
deraf
f
or
dedoppor
t
uni
t
yt
o
t
henot
i
ceest
of
i
l
et
hei
rsubmi
ssi
onsandseekanoppor
t
uni
t
yofper
sonalhear
i
ng.
4.

Thei
nt
er
i
m or
derwasf
or
war
dedt
ot
henot
i
ceesvi
deSEBIl
et
t
er
sdat
edAugust

08,2014t
hr
oughSpeedPostwi
t
hAcknowl
edgmentDue.Thei
nt
er
i
m or
derr
et
ur
ned
undel
i
ver
ed wi
t
hr
espectt
o Mr
.Remendr
a Mohan Sar
karand Mr
.Sukant
a Deb.
Ther
eaf
t
er
,SEBIt
r
i
edt
oser
vet
hei
nt
er
i
m or
derbyhanddel
i
ver
yand/orpast
i
ngt
he
samei
nt
hel
astknownaddr
essofnot
i
cees.Thei
nt
er
i
m or
derwashanddel
i
ver
edon
Mr
.Par
t
haDasandMr
.Sukant
aDebwhi
chwer
er
ecei
vedont
hei
rbehal
f
.Thei
nt
er
i
m
or
derwaspast
edont
hepr
emi
sesoft
heCompany,Mr
.Remendr
aMohanSar
kar
,Mr
.
Page3of3

RameswarPodderandRamelRealEst
at
eandI
nf
r
ast
r
uct
ur
eDebent
ur
eTr
ust
.
The
i
nt
er
i
m or
derwasr
ecei
vedbyt
heTr
ust
ee,Mr.Sanj
oyDebwhof
i
l
edhi
sr
epl
yvi
de
l
et
t
erdat
edAugust18,
2014.
5.

Thenot
i
ceeswer
eal
sopr
ovi
dedanoppor
t
uni
t
yofper
sonalhear
i
ngonAugust

12,
2015andt
heschedul
eoft
hesamewasi
nt
i
mat
edt
ot
henot
i
ceesvi
deSEBIl
et
t
er
s
dat
edJul
y24,2015.SEBIal
soi
ssuedanewspapernot
i
cedat
edAugust05,2015i
n

TheTi
mesofI
ndi
aandAnandBazarPat
r
i
kai
nt
i
mat
i
ngt
henot
i
ceesr
egar
di
ngt
he
pr
oceedi
ngsi
ni
t
i
at
edvi
det
hei
nt
er
i
m or
derandt
heper
sonalhear
i
ng.
6.

OnAugust12,2015,exceptf
orMr
.Sanj
oyDeb(
t
het
r
ust
eeoft
hedebent
ur
e

t
r
ust
ee)
,r
epr
esent
ed byhi
scounsel
,Mr
.Ni
khi
lSal
vi
,noneoft
heot
hernot
i
cees
appear
ed.They di
d not r
equest f
or anot
her oppor
t
uni
t
y.The Advocat
e who
r
epr
esent
edMr
.Sanj
oyDebsubmi
t
t
edt
hatt
hi
snot
i
ceehadal
r
eadyr
esi
gnedf
r
om hi
s
t
r
ust
eeposi
t
i
onandr
equest
edf
oronemont
h
st
i
mef
orf
i
l
i
ngwr
i
t
t
ensubmi
ssi
on.The
r
equestwasal
l
owed.
7.

Ther
eaf
t
er
,vi
de l
et
t
erdat
ed Sept
ember11,2015 r
ead wi
t
hl
et
t
erdat
ed

November16,2015,t
heAdvocat
ef
i
l
edwr
i
t
t
ensubmi
ssi
onsonbehal
fofMr
.Sanj
oy
Deb,
i
nt
eral
i
asubmi
t
t
i
ngt
hef
ol
l
owi
ng:
(
a)Thenot
i
ceewasavi
ct
i
m ofanor
gani
zedandpr
edet
er
mi
nedf
r
audcommi
t
t
ed
upont
hepubl
i
catl
ar
gebyt
heCompanyandi
t
sdi
r
ect
or
s R.N.Sar
kar
(
appear
st
obear
ef
er
encet
oMr
.Remendr
aMohanSar
kar
)
,R.Poddar
,Par
t
a
Das,
Sukant
aDebandt
hedebent
ur
et
r
ust
.
(
b)Though t
he not
i
cee i
s an Advocat
e,he i
si
nvol
ved onl
yi
nr
egi
st
r
at
i
on of
document
satt
heof
f
i
ceoft
heDi
st
r
i
ctSubRegi
st
r
ari
n Jal
pai
gur
iand t
he
sur
r
oundi
ngar
eas.
(
c)Somet
i
mei
nt
heyear2010,
Sukant
aDeb(
di
r
ect
oroft
heCompany)appr
oached
Page4of4

t
henot
i
ceewi
t
har
equestt
ost
ampandr
egi
st
ercer
t
ai
ndocument
sper
t
ai
ni
ng
t
o cer
t
ai
nl
andsal
l
egedl
ypur
chased byt
heCompany.Thenot
i
ceedi
dt
he
necessar
yr
egi
st
r
at
i
onwor
kandwaspr
omi
sedmor
et
r
ansact
i
onsandi
ncome
f
r
om suchst
ampi
ngandr
egi
st
r
at
i
onofdocument
sbyt
hesai
ddi
r
ect
or
.
(
d)Thenot
i
ceewasi
nf
or
medi
n2012t
hatt
hebusi
nessoft
heCompanyhadt
obe
expandedandt
hatt
heCompanywoul
di
nvesthugef
undsandacqui
r
el
ar
ge
pi
ecesofl
andwhi
chwoul
dbeent
r
ust
edt
ohi
mf
orr
egi
st
r
at
i
onpur
pose.The
not
i
ceewasal
soi
nf
or
medt
hatsubst
ant
i
alf
undswoul
dber
equi
r
edf
orsuch
expansi
onandt
hatt
heCompanyhadi
ssuedcapi
t
alt
ot
het
uneofRs.
5l
akh.

(
e)Thenot
i
ceewasi
nf
or
medt
hatt
heywoul
denhancehi
spayment
,whi
chatt
he
r
el
evantt
i
mewasRs.
2.
5l
akhperannum appr
oxi
mat
el
y.Thesamei
sevi
denced
f
r
om t
heI
ncomeTaxRet
ur
nf
i
l
edbyt
henot
i
cee.Ret
ur
nsf
orFY31.
03.
2013and
31.
03.
2014wer
esai
dt
obeencl
osed.(
However
,onper
usal
,i
ti
sobser
vedt
hat

t
hesai
dRet
ur
nswer
ef
orFY201112and201213)
.
(
f
)On i
nvi
t
at
i
on f
r
om Sukant
a Deb,t
he not
i
cee vi
si
t
ed t
he pr
emi
ses oft
he
Companyi
nKol
kat
adur
i
ngDecember2011.However
,
hedi
dnotmeett
heot
her
di
r
ect
or
s.
(
g)Somet
i
mei
nt
heyear2012,t
henot
i
ceewasi
nf
or
medt
hatt
hedi
r
ect
or
soft
he
Company woul
dt
ake car
e ofal
lt
he l
egalr
equi
r
ement
sf
ori
ssuance of
debent
ur
esandt
hatsuchi
ssuancewoul
dbecompl
et
el
yundert
hecont
r
oland
managementoft
hedi
r
ect
or
soft
heCompany.Thenot
i
ceewasal
soi
nf
or
med
t
hatt
hecompl
i
anceofal
lst
at
ut
or
ypr
ovi
si
ons,
most
l
yundert
heCompani
esAct
andSEBI
,
woul
dbet
her
esponsi
bi
l
i
t
yoft
hedi
r
ect
or
sandt
hatt
henot
i
ceewoul
d
onl
ybeconcer
nedwi
t
ht
her
egi
st
r
at
i
onofdocument
sonpur
chaseofl
andby
t
heCompany.
(
h)Thenot
i
ceewasi
nf
or
medbySukant
aDebt
hatt
heCompanyhaddeci
dedt
o
i
ssuedebent
ur
esandr
ai
sef
undst
ot
het
uneofRs.
75cr
or
eandt
hesamewoul
d
beusedf
orpur
chasi
ngi
mmovabl
epr
oper
t
i
esal
lovert
heSt
at
eofWestBengal
.
Page5of5

Thenot
i
ceewasal
soi
nf
or
medt
hatf
orsuchi
ssuance,
hewasr
equi
r
edt
oactas
aTr
ust
ee,whi
chwasdevoi
dofper
f
or
manceofanyl
egalobl
i
gat
i
ons. The
not
i
ceewasal
soi
nf
or
medt
hatasadebent
ur
et
r
ust
ee,
hehadnor
ol
et
oactand
al
li
ssuesr
el
at
i
ngt
oi
nvest
ment
s,acqui
si
t
i
onofi
mmovabl
epr
oper
t
i
es,and
paymentofi
nt
er
estt
ot
hedebent
ur
ehol
der
swoul
dbewhol
l
yunder
t
akenbyt
he
Company.The not
i
cee was al
so i
nf
or
med t
hatf
oragr
eei
ng t
o actas a
debent
ur
et
r
ust
ee,
t
henot
i
ceewoul
dbepai
dasum ofRs.
5000/
-permont
h.
(
i
)Thenot
i
ceewasal
soi
nf
or
medt
hatt
hi
sar
r
angementwast
empor
ar
yandupon
acqui
si
t
i
onofi
mmovabl
epr
oper
t
i
esandr
egi
st
r
at
i
onoft
hesame,t
henot
i
cee
s
r
ol
easadebent
ur
et
r
ust
eewoul
dceaseandt
heCompanywoul
dappoi
nta

pr
operTr
ust
ee
.
(
j
)Thenot
i
ceewasal
soi
nf
or
medt
hatasadebent
ur
et
r
ust
ee,hewasr
equi
r
edt
o
actasmor
t
gageeandt
hathewoul
dbevest
edwi
t
hcer
t
ai
nr
i
ght
swhi
chwoul
d
bef
orsecur
i
ngt
heamount
spayabl
et
owar
dsi
nt
er
estf
ort
hedebent
ur
est
ot
he
subscr
i
bedpubl
i
catl
ar
ge.Thedeedofmor
t
gageal
soment
i
onedt
hepayment
t
ot
he not
i
cee.Based on t
he r
epr
esent
at
i
on,t
he not
i
cee had si
gned t
wo
document
spubl
i
ct
r
ustdat
edFebr
uar
y18,
2012(
wher
et
henot
i
ceeagr
eedt
o
actas t
r
ust
ee)and mor
t
gage deed dat
ed Febr
uar
y18,2012 wher
ebyt
he
Companywas a mor
t
gagerand t
he not
i
cee was t
he mor
t
gagee.The t
wo
document
swer
esi
gnedbyR.M.Sar
kar
,
whom t
henot
i
ceenevermet
.
(
k)Thenot
i
ceewasneverpai
dt
heamountofRs.
5000/
-pr
omi
sedt
ohi
m andwas
neveri
nvi
t
edt
oanymeet
i
ngsoft
hedi
r
ect
or
s.Thenot
i
ceewasnoti
nf
or
medas
t
ot
henumberofdebent
ur
esf
l
oat
ed,
t
henumberofappl
i
cant
swhower
ei
nvi
t
ed
t
opar
t
i
ci
pat
e,
act
ualnumberofdebent
ur
esi
ssuedet
c.Thenot
i
ceewasal
sonot
i
nf
or
medast
ohow t
hef
undswer
edepl
oyedandwhatar
et
hei
nvest
ment
s
madeoutoft
hesai
damountofRs.
75cr
or
ecol
l
ect
edbyt
heCompany.
(
l
)Thenot
i
ceedi
dnotal
soknow whet
hert
heCompanyact
ual
l
ydi
sbur
sedt
he
i
nt
er
estundert
hei
ssueofdebent
ur
es.Whenf
ewper
sonsi
nf
or
medt
henot
i
cee
t
hatt
heydi
dnotr
ecei
vei
nt
er
est
,t
henot
i
ceehadt
r
i
edt
ocont
actt
hedi
r
ect
or
s
butwaswi
t
houtanysuccess.Thedi
r
ect
or
sdi
dnotevenr
espondt
ot
el
ephoni
c
Page6of6

cal
l
smadebyt
henot
i
ceeseeki
ngpayment
st
oi
nvest
or
s.
(
m)

I
n such ci
r
cumst
ances,t
he not
i
cee vi
de l
et
t
erdat
ed Jul
y 15,2013

i
nf
or
medt
hedi
r
ect
or
st
hathewasr
esi
gni
ngf
r
om t
heposi
t
i
onasat
r
ust
ee.The
samewasaccept
edandt
heCompanyi
nr
esponse(
l
et
t
erdat
edJul
y24,2013)
i
nf
or
medt
hati
twasgoi
ngt
hr
oughf
i
nanci
alcr
i
si
sandsever
alpr
oper
t
i
esoft
he
Companyanddi
r
ect
or
swer
epr
oposedt
obesol
df
orsat
i
sf
yi
ngt
hel
i
abi
l
i
t
i
es.I
t
wasal
so i
nf
or
med t
hatt
heCompanywasnotabl
et
o sel
lbecauseoft
he
gover
nment

si
nt
er
f
er
ence.TheCompanyal
soi
nf
or
medt
hatasui
twasf
i
l
edi
n
t
heHi
ghCour
tofCal
cut
t
af
orsal
eofpr
emi
sest
oenabl
ei
tt
opayt
hei
nvest
or
s.
Acopyoft
her
esi
gnat
i
onl
et
t
erandi
t
saccept
ancel
et
t
erwer
eencl
osed.
(
n)Consi
der
i
ngt
her
epr
esent
at
i
onmadebyt
heCompany/
di
r
ect
or
s,t
henot
i
cee
shoul
dbet
r
eat
edasa
r
ankout
si
der
andbasedont
heassur
ancest
hatt
he
Companywoul
dt
akecompl
et
eandabsol
ut
er
esponsi
bi
l
i
t
yf
orcompl
i
ancesof
al
lst
at
ut
or
yobl
i
gat
i
onswhi
char
emandat
edundert
heCompani
esAct
/
SEBI
r
egul
at
i
ons,t
henot
i
ceest
oodcompl
et
el
yabsol
vedofconsequencesofal
l
eged
vi
ol
at
i
ons.
(
o)Thenot
i
ceei
sasmal
lt
i
meadvocat
eandl
ar
gel
yconf
i
nedt
ost
ampi
ngand
r
egi
st
r
at
i
onofdocument
s.Hehasbeendel
i
ber
at
el
youst
edandkeptawayf
r
om
t
hedeedsoft
hedi
r
ect
or
si
nr
ai
si
ngRs.
75cr
or
e.
(
p)Thenot
i
ceesubmi
t
t
edt
hati
nsuchci
r
cumst
ances,i
nvoki
ngsect
i
ons117B&
117Coft
heCompani
esActagai
nsthi
m wasundul
yhar
shandi
nequi
t
abl
eashe
hadnot
hi
ngt
odowi
t
ht
hemanagement
.Thedi
r
ect
or
soft
heCompanywer
e
compl
et
el
yi
nchar
geoft
hei
ssuanceofdebent
ur
esand i
n cr
eat
i
on oft
he
debent
ur
et
r
ustdeedwhi
chwasf
orcover
i
ngupt
hei
rwr
ongf
ulactandl
ur
i
ngt
he
i
nvest
or
si
nt
osubscr
i
bi
ngt
ot
hedebent
ur
es.
(
q)Thenot
i
ceecoul
dhaveneversat
i
sf
i
edt
heel
i
gi
bi
l
i
t
ycondi
t
i
onsundert
heDT
Regul
at
i
onsast
hepr
ovi
si
onofr
egul
at
i
on7oft
heDTRegul
at
i
onsmandat
es
speci
f
i
edent
i
t
i
esel
i
gi
bl
et
oactasdebent
ur
et
r
ust
ees.Thenot
i
ceer
equest
ed
t
hatt
heobser
vat
i
onsi
npar
agr
aph7.
3and7.
8oft
hei
nt
er
i
m or
deroughtt
obe
Page7of7

compassi
onat
el
yconsi
der
ed.Thenot
i
ceehasal
r
eadydi
sassoci
at
edhi
msel
f
f
r
om t
heCompany.
(
r
)Thenot
i
ceer
equest
edt
hatSEBIshoul
ddecl
ar
et
hathei
si
nnocentandi
sa
vi
ct
i
m off
r
audpl
ayedbyt
hedi
r
ect
or
soft
heCompany.
8.

Ihaveconsi
der
edt
hei
nt
er
i
m or
der
,t
hesubmi
ssi
onsmadebyt
hedebent
ur
e

t
r
ust
eeandot
hermat
er
i
alavai
l
abl
eonr
ecor
d.TheCompanyhasnotr
espondedt
ot
he
i
nt
er
i
m or
derdespi
t
emaki
ngapubl
i
cnot
i
ce.Ther
ef
or
e,Idonothavet
hebenef
i
tof
f
ur
t
hersubmi
ssi
ons/
document
sf
r
om t
heCompany/
not
i
ceesandhavet
odeci
det
he
casebasedont
hemat
er
i
alal
r
eadyavai
l
abl
eonr
ecor
d.Thei
nt
er
i
m or
derhadi
nt
er

al
i
aobser
ved/
al
l
egedt
hef
ol
l
owi
ng:
(
a)Theof
f
erofNCDspr
i
maf
aci
equal
i
f
i
edasapubl
i
ci
ssueundert
hef
i
r
stpr
ovi
so
t
osect
i
on67(
3)oft
heCompani
esAct
,
1956.
(
b)The Company was engaged i
nf
und mobi
l
i
zi
ng act
i
vi
t
y and vi
ol
at
ed t
he
pr
ovi
si
onsofsect
i
ons56,60,73,117Band117Coft
heCompani
esAct
,1956
andt
her
el
evantpr
ovi
si
onsoft
heI
LDSRegul
at
i
ons.
(
c)Thedebent
ur
et
r
ust
ee,RamelRealEst
at
eandI
nf
r
ast
r
uct
ur
eDebent
ur
eTr
ust
(
r
epr
esent
edbyi
t
sTr
ust
ee,Mr
.Sanj
oyDeb)hadf
ai
l
edt
omeett
heel
i
gi
bi
l
i
t
y
cr
i
t
er
i
aspeci
f
i
edundert
hepr
ovi
si
onsoft
heDTRegul
at
i
onsandact
edasan
unr
egi
st
er
edDebent
ur
eTr
ust
ee,i
nvi
ol
at
i
onoft
hepr
ovi
si
onsofSEBIActr
ead
wi
t
ht
heDTRegul
at
i
ons.
9.

Inot
et
hatt
heCompany,vi
del
et
t
erdat
edFebr
uar
y15,2014,had i
nt
eral
i
a

st
at
edt
hat
-

a.

"
We had i
ssued Secur
ed NonConver
t
i
bl
e Redeemabl
e
Debent
ur
esonPr
i
vat
ePl
acement(
"
NCDs"
)basi
s.Tot
alamount
r
ai
sedwas75Cr
or
es.
Page8of8

b.

TheI
ssuebei
ngpr
i
vat
epl
acement
,noPr
ospect
us/
RedHer
r
i
ng
Pr
ospect
us/
St
at
ement i
n l
i
eu of Pr
ospect
us/
I
nf
or
mat
i
on
Memor
andum hasbeenf
i
l
edwi
t
hRegi
st
r
arofCompani
es(
ROC)
.
c. TheCompanyhasnoti
ssuedanyot
herser
i
esofNCDsexceptt
he
onest
at
edher
ei
nabove.
d. Dat
eofOpeni
ngFebr
uar
y27,2012&Dat
eofCl
osi
ngOct
ober
18,
2012.
e. NumberofAppl
i
cat
i
onf
or
msci
r
cul
at
ed1045
f
.
NumberofAppl
i
cat
i
onsr
ecei
ved1045
g. NumberofAl
l
ot
t
ees1045
h. Dat
eofAl
l
ot
mentOct
ober19,
2012
i
.
Si
ncet
hei
ssuewaspr
i
vat
epl
acement
,nopr
omot
i
onalmat
er
i
al
,
et
c.hasbeenci
r
cul
at
ed.Thesai
dNCDshadbeenof
f
er
edonl
yt
o
t
heal
r
eadyi
dent
i
f
i
edi
nvest
or
s.
"
Theal
l
ot
menti
nr
espectoft
heOf
f
erofNCDswasmadepur
suantt
ot
heResol
ut
i
onof
t
heCommi
t
t
eeofBoar
dofDi
r
ect
or
soft
heCompanymadeonOct
ober18,
2012.Fr
om
t
he above submi
ssi
ons,i
tcan be not
ed t
hatt
he Company had ci
r
cul
at
ed 1045
appl
i
cat
i
onf
or
mswi
t
hr
espectt
oi
t
sof
f
erofNCDs.Theof
f
erf
orsubscr
i
pt
i
ont
ot
he
NCDswasopened on Febr
uar
y27,2012 and cl
osed on Oct
ober18,2012. The
Companyhadal
l
ot
t
edNCDst
o1045i
nvest
or
sonOct
ober19,2012pur
suantt
ot
he
r
esol
ut
i
onofboar
dofdi
r
ect
or
sonOct
ober18,2012.TheCompanyhasal
soadmi
t
t
ed
t
hati
tdi
dnoti
ssueanyof
f
erdocument
/
Pr
ospect
us/
I
nf
or
mat
i
onMemor
andum nor
f
i
l
edt
hesamewi
t
ht
heRoCandhasmobi
l
i
zedRs.
75cr
or
et
hr
oughsuchi
ssueof
NCDs.
10. Sect
i
on 67 oft
he Compani
es Act
,1956 pr
ovi
des necessar
y gui
dance t
o
det
er
mi
newhet
herani
ssueofsecur
i
t
i
eswasmadeonpr
i
vat
epl
acementorwasmade
t
ot
hepubl
i
c.I
nt
er
msofsect
i
on67(
3)
,asamendedbyt
heCompani
es(
Amendment
)

Act
,
2000,
wi
t
hef
f
ectf
r
om December13,
2000,
noof
f
erori
nvi
t
at
i
onshal
lbet
r
eat
edas
madet
ot
hepubl
i
cbyvi
r
t
ueofsubsect
i
ons(
1)or(
2)
,ast
hecasemaybe,i
ft
heof
f
er
ori
nvi
t
at
i
on can pr
oper
l
y be r
egar
ded,i
n al
lci
r
cumst
ances (
a)as notbei
ng
cal
cul
at
ed t
or
esul
t
,di
r
ect
l
yori
ndi
r
ect
l
y,i
nt
he shar
es ordebent
ur
es becomi
ng
avai
l
abl
ef
orsubscr
i
pt
i
onorpur
chasebyper
sonsot
hert
hant
hoser
ecei
vi
ngt
heof
f
er
ori
nvi
t
at
i
on;or(
b)ot
her
wi
seasbei
ngadomest
i
cconcer
noft
heper
sonsmaki
ngand
r
ecei
vi
ngt
heof
f
erori
nvi
t
at
i
on.Mor
ei
mpor
t
ant
l
y,i
nt
er
msoft
hef
i
r
stpr
ovi
sot
ot
he
Page9of9

af
or
esai
dsect
i
on,t
hepr
ovi
si
onsofsect
i
on67(
3)shal
lnotappl
yi
nacasewher
et
he
of
f
erori
nvi
t
at
i
ont
osubscr
i
bef
orshar
esordebent
ur
esi
smadet
of
i
f
t
yper
sonsor
mor
e.Ther
ef
or
e,i
nacasel
i
ket
hepr
esentone,t
henumberofsubscr
i
ber
st
owhom
of
f
er
/
al
l
ot
menti
smadebecomesr
el
evant
.TheCompanyhasadmi
t
t
edt
hati
tmade
of
f
ert
o1045i
nvest
or
sandal
l
ot
t
edNCDst
osuchi
nvest
or
sonr
ecei
ptofappl
i
cat
i
ons
f
r
om t
hem onOct
ober19,2012.TheCompanyi
snotanNBFCoraPFI
.Ast
heof
f
er
andal
l
ot
mentofNCDswasmadet
omor
et
han49per
sons,t
heof
f
ermadebyt
he
Companybecomesa
publ
i
ci
ssueofsuchsecur
i
t
i
esi
nt
er
msoft
hef
i
r
stpr
ovi
sot
o
sect
i
on67(
3)oft
heCompani
esAct
,
1956.I
nt
hi
scont
ext
,
Ir
ef
erandr
el
yont
hebel
ow
ment
i
onedobser
vat
i
onmadebyt
heHon'
bl
eSupr
emeCour
tofI
ndi
ai
nt
hemat
t
erof

Sahar
aI
ndi
aRealEst
at
eCor
por
at
i
onLi
mi
t
ed&Or
s.Vs.SEBI(
Ci
vi
lAppealno.9813
and9833of2011)(
her
ei
naf
t
err
ef
er
r
edt
oast
he'
Sahar
aCase'
)
:

.
.
..
.
.t
hatanyshar
eordebent
ur
ei
ssuebeyondf
or
t
yni
neper
sons,woul
dbeapubl
i
c
i
ssue at
t
r
act
i
ng al
lt
he r
el
evantpr
ovi
si
ons oft
he SEBIAct
,r
egul
at
i
ons f
r
amed
t
her
eunder
,
t
heCompani
esAct
,
per
t
ai
ni
ngt
ot
hepubl
i
ci
ssue."
.
11. Bymaki
ngapubl
i
ci
ssueofNCDs,t
heCompanywasmandat
edt
ocompl
ywi
t
h
al
lt
hel
egalpr
ovi
si
onst
hatgover
nandr
egul
at
et
hepubl
i
ci
ssueofsuchsecur
i
t
i
es,
i
ncl
udi
ngt
heCompani
esAct
,1956andt
heSEBIActandr
egul
at
i
ons.I
nt
er
msof
sect
i
on55Aoft
heCompani
esAct
,1956,SEBIshal
ladmi
ni
st
ervar
i
ouspr
ovi
si
ons(
as
ment
i
onedt
her
ei
n)oft
hesai
dActwi
t
hr
espectt
oi
ssueandt
r
ansf
erofsecur
i
t
i
esby
l
i
st
edcompani
es,compani
est
hati
nt
endt
ol
i
standal
sot
hosecompani
est
hatar
e
r
equi
r
edt
ol
i
sti
t
ssecur
i
t
i
eswhi
l
emaki
ngof
f
erandi
ssueofsecur
i
t
i
est
ot
hepubl
i
c.
Whi
l
eexami
ni
ngt
hescopeofSect
i
on55Aoft
heCompani
esAct
,1956,t
heHon'
bl
e
Supr
emeCour
tofI
ndi
ai
nSahar
aCase,
hadobser
vedt
hat
:
"
We,t
her
ef
or
e,hol
dt
hat
,sof
arast
hepr
ovi
si
onsenumer
at
edi
nt
he

openi
ngpor
t
i
onofSect
i
on55Aoft
heCompani
esAct
,sof
arast
hey
r
el
at
et
oi
ssueandt
r
ansf
erofsecur
i
t
i
esandnonpaymentofdi
vi
dend
i
sconcer
ned,SEBIhast
hepowert
oadmi
ni
st
eri
nt
hecaseofl
i
st
ed
publ
i
ccompani
esandi
nt
hecaseoft
hosepubl
i
ccompani
eswhi
ch
Page10of10

i
nt
endt
ogett
hei
rsecur
i
t
i
esl
i
st
edonar
ecogni
zedst
ockexchangei
n
I
ndi
a.
"
"SEBIcan exer
ci
se i
t
sj
ur
i
sdi
ct
i
on underSect
i
ons 11(
1)
,11(
4)
,

11A(
1)
(
b)and11BofSEBIActandRegul
at
i
on107ofI
CDR2009over
publ
i
ccompani
eswhohavei
ssuedshar
esordebent
ur
est
of
i
f
t
yor
mor
e,butnotcompl
i
edwi
t
ht
hepr
ovi
si
onsofSect
i
on73(
1)bynot
l
i
st
i
ngi
t
ssecur
i
t
i
esonar
ecogni
zedst
ockexchange"
.
Undersect
i
on 11A oft
he SEBIAct
,SEBIi
s al
so empower
ed t
or
egul
at
e,by
r
egul
at
i
ons/
gener
alorspeci
alor
der
s,t
he mat
t
er
s per
t
ai
ni
ng t
oi
ssue ofcapi
t
al
,
t
r
ansf
erofsecur
i
t
i
esandmat
t
er
sr
el
at
edt
her
et
o.Accor
di
ngl
y,t
heCompany,havi
ng
madeapubl
i
cof
f
erandi
ssueofsecur
i
t
i
es,
asobser
vedabove,
i
sundert
hej
ur
i
sdi
ct
i
on
ofSEBI
.
12. Sect
i
ons56,60,73,117B and 117C oft
heCompani
esAct
,1956 and t
he
pr
ovi
si
onsoft
heI
LDSRegul
at
i
onsar
er
equi
r
edt
obecompl
i
edbyacompanymaki
ng
apubl
i
ci
ssueofsecur
i
t
i
es.Regar
di
ngt
heal
l
egedvi
ol
at
i
onofsuchpr
ovi
si
onsoft
he
Compani
esAct
,
1956andt
heI
LDSRegul
at
i
ons,
Iobser
vet
hef
ol
l
owi
ng:
(
i
)

I
nt
er
msofsect
i
on56(
1)oft
heCompani
esAct
,1956,ever
ypr
ospect
us
i
ssuedbyoronbehal
fofacompany,shal
lst
at
et
hemat
t
er
sspeci
f
i
edi
n
Par
tIandsetoutt
her
epor
t
sspeci
f
i
edi
nPar
tI
IofSchedul
eI
Ioft
hatAct
.
Fur
t
her
,
aspersect
i
on56(
3)oft
heCompani
esAct
,
1956,
nooneshal
li
ssue
anyf
or
m ofappl
i
cat
i
on f
orshar
es i
n a company,unl
ess t
he f
or
m i
s
accompani
edbyabr
i
dgedpr
ospect
us,cont
ai
ndi
scl
osur
esasspeci
f
i
ed.
Sect
i
on2(
36)oft
heCompani
esActr
eadwi
t
hsect
i
on60t
her
eof
,
mandat
es
acompanyt
or
egi
st
eri
t
s'
pr
ospect
us'
wi
t
ht
heRoC,bef
or
emaki
ngapubl
i
c
of
f
er
/i
ssui
ngt
he'
pr
ospect
us'
.TheCompanyhasadmi
t
t
edt
hati
tdi
dnot
f
i
l
eanyPr
ospect
us/
of
f
erdocumentwi
t
ht
heRoCandt
her
ef
or
ehasvi
ol
at
ed
t
heaf
or
esai
dpr
ovi
si
ons.

Page11of11

(
i
i
)

Bymaki
ngapubl
i
ci
ssueofsecur
i
t
i
es,t
heCompanyhadt
ocompul
sor
i
l
y
l
i
stsuchsecur
i
t
i
esi
ncompl
i
ancewi
t
hsect
i
on73(
1)oft
heCompani
esAct
,
1956. A Companymaki
ng apubl
i
ci
ssueofsecur
i
t
i
escannotchoose
whet
hert
ol
i
sti
t
ssecur
i
t
i
esornotasl
i
st
i
ngi
samandat
or
yr
equi
r
ement
underl
aw i
napubl
i
ci
ssue.Aspersect
i
on73(
1)Compani
esAct
,1956,a
companyi
sr
equi
r
edt
omakeanappl
i
cat
i
ont
ooneormor
er
ecogni
zed
st
ockexchangesf
orper
mi
ssi
onf
ort
heshar
esordebent
ur
est
obeof
f
er
ed
t
obedeal
twi
t
hi
nt
hest
ockexchange.Fur
t
her
,t
her
ei
snomat
er
i
alt
osay
t
hatt
he Company has f
i
l
ed an appl
i
cat
i
on wi
t
har
ecogni
zed st
ock
exchanget
oenabl
et
heNCDst
obedeal
twi
t
hi
nsuchst
ockexchange.
Ther
ef
or
e,
t
heCompanyhasf
ai
l
edt
ocompl
ywi
t
ht
hi
sr
equi
r
ement
.Sect
i
on
73(
2)st
at
es t
hat"
Wher
et
he per
mi
ssi
on has notbeen appl
i
ed under

subsect
i
on(
1)orsuchper
mi
ssi
onhavi
ngbeenappl
i
edf
or
,hasnotbeen
gr
ant
edasaf
or
esai
d,t
hecompanyshal
lf
or
t
hwi
t
hr
epaywi
t
houti
nt
er
estal
l
moneysr
ecei
vedf
r
om appl
i
cant
si
npur
suanceoft
hepr
ospect
us,and,i
f
anysuchmoneyi
snotr
epai
dwi
t
hi
nei
ghtdaysaf
t
ert
hecompanybecomes
l
i
abl
et
or
epayi
t
,t
hecompanyandever
ydi
r
ect
oroft
hecompanywhoi
san
of
f
i
ceri
ndef
aul
tshal
l
,onandf
r
om t
heexpi
r
yoft
heei
ght
hday,bej
oi
nt
l
y
andsever
al
l
yl
i
abl
et
or
epayt
hatmoneywi
t
hi
nt
er
estatsuchr
at
e,notl
ess
t
hanf
ourpercentandnotmor
et
hanf
i
f
t
eenpercent
,asmaybepr
escr
i
bed,
havi
ngr
egar
dt
ot
hel
engt
hoft
heper
i
odofdel
ayi
nmaki
ngt
her
epayment
ofsuchmoney"
.
Ast
heCompanyf
ai
l
edt
omakeanappl
i
cat
i
onf
orl
i
st
i
ngofsuchsecur
i
t
i
es,
t
heCompanyhadt
of
or
t
hwi
t
hr
epaysuchmoneycol
l
ect
edf
r
om i
nvest
or
s.
I
fsuchr
epayment
sar
enotmadewi
t
hi
n8daysaf
t
ert
heCompanybecomes
l
i
abl
et
or
epay,t
heCompanyandever
ydi
r
ect
ori
sl
i
abl
et
or
epaywi
t
h
i
nt
er
estatsuchr
at
e.Thel
i
abi
l
i
t
yoft
heCompanyt
or
ef
undt
hepubl
i
cf
unds
col
l
ect
ed t
hr
ough of
f
erand al
l
ot
mentoft
he i
mpugned secur
i
t
i
es i
s
cont
i
nui
ng and such l
i
abi
l
i
t
ywoul
d cont
i
nuet
i
l
lr
epayment
sar
emade.
Ther
ei
snor
ecor
dt
osuggestt
hatt
heCompanymadet
her
ef
undsasper
l
aw.TheHon'
bl
eSupr
emeCour
tofI
ndi
ai
nt
heSahar
acasehasexami
ned
Page12of12

sect
i
on73andmadet
hef
ol
l
owi
ngobser
vat
i
ons:

"
Sect
i
on 73(
1)oft
he Actcast
s an obl
i
gat
i
on on ever
y
company i
nt
endi
ng t
o of
f
ershar
es ordebent
ur
es t
ot
he
publ
i
ct
o appl
y on a st
ock exchange f
orl
i
st
i
ng ofi
t
s
secur
i
t
i
es.Suchcompani
eshavenoopt
i
onorchoi
cebutt
o
l
i
stt
hei
rsecur
i
t
i
esonar
ecogni
zedst
ockexchange,once
t
heyi
nvi
t
esubscr
i
pt
i
onf
r
om overf
or
t
yni
nei
nvest
or
sf
r
om
t
hepubl
i
c.I
fanunl
i
st
edcompanyexpr
essesi
t
si
nt
ent
i
on,by
conductorot
her
wi
se,t
oof
f
eri
t
ssecur
i
t
i
est
ot
hepubl
i
cby
t
hei
ssueofapr
ospect
us,t
hel
egalobl
i
gat
i
ont
omakean
appl
i
cat
i
ononar
ecogni
zedst
ockexchangef
orl
i
st
i
ngst
ar
t
s.
Subsect
i
on(
1A)ofSect
i
on73gi
vesi
ndi
cat
i
onofwhatar
e
t
he par
t
i
cul
ar
st
o be st
at
ed i
n such a pr
ospect
us.The
consequencesofnotappl
yi
ngf
ort
heper
mi
ssi
onundersubsect
i
on(
1)ofSect
i
on73ornotgr
ant
i
ngofper
mi
ssi
oni
s
cl
ear
l
yst
i
pul
at
edi
nsubsect
i
on(
3)ofSect
i
on73.Obl
i
gat
i
on
t
or
ef
undt
heamountcol
l
ect
edf
r
om t
hepubl
i
cwi
t
hi
nt
er
esti
s
al
somandat
or
yasperSect
i
on73(
2)oft
heAct
.Li
st
i
ngi
s,
t
her
ef
or
e,al
egalr
esponsi
bi
l
i
t
yoft
hecompanywhi
chof
f
er
s
secur
i
t
i
est
ot
hepubl
i
c,pr
ovi
dedof
f
er
sar
emadet
omor
e
t
han50per
sons.
"
Theof
f
erwasmadedur
i
ngt
heyear2012andal
l
ot
ment
swer
emadet
o
1045per
sonsonOct
ober19,2012.Asment
i
onedabove,t
heCompanyor
i
t
sdi
r
ect
or
shavenotpar
t
i
ci
pat
edi
nt
hei
nst
antpr
oceedi
ngs.Fur
t
her
,t
her
e
i
snor
ecor
dt
ost
at
et
hatt
heamount
smobi
l
i
zedt
hr
ought
hei
ssueof
secur
i
t
i
eshavebeenr
ef
undedwi
t
hi
nt
het
i
meper
i
odasmandat
edunder
l
aw.Accor
di
ngl
y,i
twoul
dbeappr
opr
i
at
et
ol
evyani
nt
er
est@ 15%p.
a.i
n
t
er
msofsect
i
on73(
2)oft
heCompani
esAct
,1956andr
ul
e4D (
whi
ch

pr
escr
i
best
hatt
her
at
esofi
nt
er
est
,f
ort
hepur
posesofsubsect
i
ons(
2)
and(
2A)ofsect
i
on73,shal
lbe15percentperannum)oft
heCompani
es
(
Cent
r
alGover
nment

s)Gener
alRul
esandFor
ms,1956ont
heamount
s
mobi
l
i
zedbyt
heCompanyt
hr
oughi
t
sof
f
erandi
ssueofNCDsf
r
om t
he
Page13of13

dat
ewhent
hesamewasl
i
abl
et
ober
epai
dt
i
l
ldat
eofact
ualpaymentt
ot
he
i
nvest
or
.
(
i
i
i
) Sect
i
on117Boft
heCompani
esAct
,
1956,
pr
escr
i
best
hatnocompanyshal
l
i
ssueapr
ospect
usoral
et
t
erofof
f
ert
ot
hepubl
i
cf
orsubscr
i
pt
i
onofi
t
s
debent
ur
es,unl
ess i
thas,bef
or
e such i
ssue,appoi
nt
ed one ormor
e
debent
ur
et
r
ust
eesf
orsuchdebent
ur
esandt
hecompanyhas,ont
hef
ace
oft
hepr
ospect
usort
hel
et
t
erofof
f
er
,st
at
edt
hatt
hedebent
ur
et
r
ust
eeor
t
r
ust
eeshavegi
vent
hei
rconsentt
ot
hecompanyt
obesoappoi
nt
ed.The
Companyhasadmi
t
t
edl
ynotf
i
l
ed anyPr
ospect
us.Ther
ef
or
e,t
hesai
d
pr
ovi
si
on has notbeen f
ul
l
y compl
i
ed wi
t
h.Fur
t
her
,appoi
nt
mentof
debent
ur
et
r
ust
eeshal
lbei
nt
er
msofal
lappl
i
cabl
el
aw.Sect
i
on117C
st
i
pul
at
es t
hat
,wher
e a company i
ssues debent
ur
es,i
tshal
lcr
eat
ea
debent
ur
er
edempt
i
onr
eser
vef
ort
her
edempt
i
onofsuchdebent
ur
es,t
o
whi
chadequat
eamount
sshal
lbecr
edi
t
ed,
f
r
om outofi
t
spr
of
i
t
sever
yyear
unt
i
lsuchdebent
ur
esar
er
edeemed.Ther
ei
snor
ecor
dt
osuggestt
hatt
hi
s
pr
ovi
si
onwascompl
i
edwi
t
hast
hel
astbal
ancesheetavai
l
abl
eonMCA
por
t
alper
t
ai
nst
oMar
ch2012,
whi
chi
spr
i
ort
oi
ssuanceofNCDs.
(
i
v) As NCDs ar
e
debtsecur
i
t
i
esi
nt
er
ms oft
he I
LDS Regul
at
i
ons,t
he
Companywasal
somandat
edt
ocompl
ywi
t
ht
hepr
ovi
si
onsoft
heI
LDS
Regul
at
i
onsi
nr
espectofi
t
spubl
i
ci
ssueofNCDs.However
,t
heCompany
f
ai
l
edt
ocompl
ywi
t
ht
hef
ol
l
owi
ngpr
ovi
si
onsoft
heI
LDSRegul
at
i
ons.
(
a)Regul
at
i
on4(
2)
(
a)Appl
i
cat
i
onf
orl
i
st
i
ngofdebtsecur
i
t
i
es
(
b)Regul
at
i
on 4(
2)
(
b) I
npr
i
nci
pl
e appr
ovalf
orl
i
st
i
ng ofdebt

secur
i
t
i
es
(
c)Regul
at
i
on4(
2)
(
c)Cr
edi
tr
at
i
nghasbeenobt
ai
ned
(
d)Regul
at
i
on4(
2)
(
d)Demat
er
i
al
i
zat
i
onofdebtsecur
i
t
i
es
(
e)Regul
at
i
on4(
4)Appoi
nt
mentofDebent
ur
eTr
ust
ee
(
f
)Regul
at
i
on 5(
2)
(
b) Di
scl
osur
er
equi
r
ement
si
n t
he Of
f
er

Document
(
g)Regul
at
i
on6Fi
l
i
ngofdr
af
tOf
f
erDocument
Page14of14

(
h)Regul
at
i
on7Modeofdi
scl
osur
eofOf
f
erDocument
(
i
) Regul
at
i
on8Adver
t
i
sement
sf
orPubl
i
cI
ssues
(
j
) Regul
at
i
on9Abr
i
dgedPr
ospect
usandappl
i
cat
i
onf
or
ms
(
k)Regul
at
i
on12Mi
ni
mum subscr
i
pt
i
on
(
l
) Regul
at
i
on 14 Pr
ohi
bi
t
i
on ofmi
sst
at
ement
si
nt
he Of
f
er

Document
(
m)Regul
at
i
on15Tr
ustDeed
(
n)Regul
at
i
on16Debent
ur
eRedempt
i
onReser
ve
(
o)Regul
at
i
on17Cr
eat
i
onofsecur
i
t
y
(
p)Regul
at
i
on19Mandat
or
yLi
st
i
ng
(
q)Regul
at
i
on26Obl
i
gat
i
onsoft
heI
ssuer
,
et
c.
13. Fr
om t
hef
or
egoi
ngobser
vat
i
ons,Iher
ebyconcl
udet
hatt
heCompanydi
dnot
compl
ywi
t
hsect
i
ons56,
60,
73,
117Band117Coft
heCompani
esAct
,
1956r
eadwi
t
h
Compani
esAct
,2013andt
heaf
or
esai
dpr
ovi
si
onsoft
heI
LDSRegul
at
i
ons,i
nr
espect
ofi
t
sof
f
erandi
ssuanceofNCDsasdi
scussedi
nt
hi
sOr
derandt
her
ef
or
el
i
abl
ef
or
sui
t
abl
eact
i
onundert
heCompani
esAct
,
1956,
t
heSEBIActandt
heI
LDSRegul
at
i
ons.
Ial
sonot
et
hatt
heCompanyhadadmi
t
t
edt
hati
tmobi
l
i
zedRs.
75cr
or
et
hr
ough
i
ssuanceofNCDs.Fur
t
her
,asnot
edf
r
om t
hei
nt
er
i
m or
deri
npar
agr
aph2.
4,t
he
Companyhasnotpr
ovi
dedf
ur
t
herdet
ai
l
ssoughtbySEBIsuchasname,
f
ol
i
onumber
,
PAN,
cont
actnumber
,
et
c.ofdebent
ur
ehol
der
s,
i
nr
el
at
i
ont
ot
heNCDsi
ssuedbyi
t
.
14. The i
nt
er
i
m or
derwas i
ssued agai
nstMr
.Remendr
a Mohan Sar
kar(
DI
N:
01753154)
,

Mr
.RameswarPodder(
DI
N:01753196)
,Mr
.Sukant
aDeb(
DI
N:

01753238)and Mr
.Par
t
ha Das(
DI
N:03631995)
.Wi
t
hr
espectt
ot
hei
rl
i
abi
l
i
t
y,I
obser
vet
hef
ol
l
owi
ng:
(
a)Aspert
hedet
ai
l
savai
l
abl
ef
r
om t
heMCA websi
t
e,al
lt
heaboveper
sons
cont
i
nuet
obet
hedi
r
ect
or
si
nt
heCompany.Mr
.Remendr
aMohanSar
kar
,Mr
.
RameswarPodderandMr
.Sukant
aDebwer
eappoi
nt
edonOct
ober15,
2009.I
t
needst
obenot
edt
hatt
heCompanywasi
ncor
por
at
edonOct
ober15,2009.
Thus,i
ti
sseent
hatt
heabovet
hr
eeper
sonsar
et
hedi
r
ect
or
sf
r
om t
hedat
eof
Page15of15

i
ncor
por
at
i
onoft
heCompany.
(
b)Mr
.Par
t
haDashasbeenappoi
nt
edasadi
r
ect
oronMar
ch14,
2012.
(
c)Theal
l
ot
mentofNCDswer
emadeonOct
ober19,
2012.TheCompanyi
sf
ound
t
ohavecont
r
avenedt
hepr
ovi
si
onsofsect
i
ons56,
60,
73,
117Band117Coft
he
Compani
esAct
,1956andt
heI
LDSRegul
at
i
ons.Fr
om t
heabovedet
ai
l
s,i
tcan
bei
nf
er
r
edt
hatal
lt
hef
ourdi
r
ect
or
swer
ei
nt
heBoar
doft
heCompanywhent
he
Companymadet
heof
f
erandal
l
ot
mentofNCDsi
nvi
ol
at
i
onoft
hel
aw.
(
d)Sect
i
on56(
1)and56(
3)r
eadwi
t
hsect
i
on56(
4)i
mposest
hel
i
abi
l
i
t
yf
ort
he
compl
i
anceoft
hesai
dpr
ovi
si
ons,ont
hecompany,ever
ydi
r
ect
or
,andot
her
per
sonsr
esponsi
bl
ef
ort
hei
ssuanceoft
hepr
ospect
us.Thel
i
abi
l
i
t
yf
ornoncompl
i
anceofsect
i
on60oft
heCompani
esActi
sont
heCompany,andever
y
per
sonwhoi
sapar
t
yt
ot
henoncompl
i
anceofi
ssui
ngt
hepr
ospect
usasper
t
hesai
dsect
i
on.Fur
t
her
,
t
hedi
r
ect
or
sofacompanywoul
dal
sober
esponsi
bl
e
f
orcompl
yi
ngwi
t
ht
hepr
ovi
si
onsoft
heI
LDSRegul
at
i
ons.
(
e)Thel
i
abi
l
i
t
yoft
hecompanyanddi
r
ect
or
st
or
epayundersect
i
on73(
2)oft
he
Compani
esAct
,
1956andsect
i
on27oft
heSEBIAct
,
i
sacont
i
nui
ngl
i
abi
l
i
t
yand
t
hesamecont
i
nuest
i
l
lal
lt
her
epayment
sar
emade.Ther
ef
or
e,t
hedi
r
ect
or
s
(
i
r
r
espect
i
veofwhet
hert
heycont
i
nueorr
esi
gn)whower
epr
esentdur
i
ngt
he
per
i
odwhent
heCompanymadet
heof
f
erandal
l
ot
t
edNCDsshal
lbel
i
abl
ef
or
vi
ol
at
i
onofsect
i
ons56,60and73oft
heCompani
esAct
,i
ncl
udi
ngt
hedef
aul
t
i
nmaki
ngr
ef
undsasmandat
edt
her
ei
n.Ast
hel
i
abi
l
i
t
yt
omaker
epayment
s
undersect
i
ons73(
2)oft
heCompani
esActr
eadwi
t
hsect
i
on27oft
heSEBIAct
i
sacont
i
nui
ngl
i
abi
l
i
t
y,t
heper
sonswhoj
oi
nt
heCompany
sBoar
dpur
suantt
o
t
heof
f
erandal
l
ot
mentofNCDsshal
lal
sobel
i
abl
ei
ft
heCompanyandt
he
concer
neddi
r
ect
or
shavef
ai
l
edt
omaker
ef
undsasmandat
edunderl
aw.
(
f
)I
nvi
ewoft
heaboveobser
vat
i
ons,
Mr
.Remendr
aMohanSar
kar
,
Mr
.Rameswar
Page16of16

Podder
,
Mr
.Sukant
aDebandMr
.Par
t
haDasshal
lbel
i
abl
ef
ort
hevi
ol
at
i
onsas
f
oundagai
nstt
heCompanyi
nt
hi
sOr
deraswel
lasf
ormaki
ngr
ef
undst
ot
he
i
nvest
or
sal
ongwi
t
hot
herenf
or
cementact
i
on.
15. The i
nt
er
i
m or
derhas al
l
eged t
hatRamelRealEst
at
e and I
nf
r
ast
r
uct
ur
e
Debent
ur
eTr
ust(
r
epr
esent
ed byi
t
sTr
ust
ee,Mr
.Sanj
oyDeb)hasact
ed ast
he
debent
ur
et
r
ust
eei
nr
espectoft
heNCDsi
ssuedbyt
heCompanywi
t
houtr
egi
st
r
at
i
on
f
r
om SEBIasr
equi
r
edundersect
i
on12(
1)oft
heSEBIActanddi
dnotsat
i
sf
yt
he
el
i
gi
bi
l
i
t
ycondi
t
i
onst
i
pul
at
edunderr
egul
at
i
on7oft
heDTRegul
at
i
ons.Thet
r
ust
ee,
Mr
.Sanj
oyDebhasmadeel
abor
at
esubmi
ssi
onsast
ohowhewasmadet
obel
i
eveby
t
heCompany/
di
r
ect
or
st
hatal
lt
her
esponsi
bi
l
i
t
i
esandcompl
i
anceswoul
dbesat
i
sf
i
ed
byt
hem andt
hatt
hi
snot
i
ceewoul
donl
yneedt
oactasat
empor
ar
yt
r
ust
eet
i
l
lsuch
t
i
met
heCompanyf
oundasui
t
abl
er
epl
acement
.Thenot
i
ceehadal
sosubmi
t
t
edt
hat
basedont
her
epr
esent
at
i
onandassur
ancesgi
venbyt
hedi
r
ect
or
soft
heCompany,
he
hadsi
gnedt
wodocument
s(
publ
i
ct
r
ustandmor
t
gagedeed)onFebr
uar
y18,2012.
Thenot
i
ceeal
sosubmi
t
t
edt
hather
esi
gnedf
r
om t
heposi
t
i
onoft
het
r
ust
eeandt
he
same was accept
ed by t
he Company on Jul
y 24,2013.Havi
ng consi
der
ed t
he
submi
ssi
onsoft
hi
snot
i
cee,Inot
et
hatanyper
sonwhoaccept
saposi
t
i
onwhi
ch
car
r
i
escer
t
ai
nr
esponsi
bi
l
i
t
i
es,compl
i
ancesandel
i
gi
bi
l
i
t
ycr
i
t
er
i
aunderl
aw oughtt
o
havesat
i
sf
i
edt
hathei
sel
i
gi
bl
eandi
fel
i
gi
bl
ecar
r
i
esoutsuchr
esponsi
bi
l
i
t
yunderf
ul
l
compl
i
anceunderl
aw.Thenot
i
ceecannotr
el
yont
her
epr
esent
at
i
onsmadebyt
he
di
r
ect
or
sorot
her
sandt
akeupanassi
gnment
.Ast
hi
snot
i
ceehasnotexer
ci
seddue
di
l
i
gencewhi
l
eaccept
i
ngt
heposi
t
i
onasdebent
ur
et
r
ust
ee,nol
eni
entvi
ew canbe
t
akenaf
t
ernot
i
ci
ngvi
ol
at
i
onofl
aw.I
nt
hepr
esentcase,
t
hedebent
ur
et
r
ust
ee(
andi
t
s
t
r
ust
ee Mr
.Sanj
oyDeb)ar
e notr
egi
st
er
ed as
debent
ur
et
r
ust
eeswi
t
h SEBIas
r
equi
r
edundersect
i
on12(
1)oft
heSEBIAct
.Fur
t
her
,
t
heydonotsat
i
sf
yt
hef
ol
l
owi
ng
condi
t
i
onsunderr
egul
at
i
on7oft
heDTRegul
at
i
ons.Thi
sr
egul
at
i
onpr
escr
i
best
hat
onl
yaschedul
edbankcar
r
yi
ngoncommer
ci
alact
i
vi
t
yorapubl
i
cf
i
nanci
ali
nst
i
t
ut
i
on

wi
t
hi
nt
he meani
ng ofsect
i
on 4A oft
he Compani
es Act
,1956 oran i
nsur
ance
companyorabodycor
por
at
eshoul
dactasadebent
ur
et
r
ust
ee.Accor
di
ngl
y,Ramel
Page17of17

RealEst
at
eand I
nf
r
ast
r
uct
ur
eDebent
ur
eTr
ust(
r
epr
esent
ed byi
t
sTr
ust
ee,Mr
.
Sanj
oyDeb)ar
ef
oundt
ohavevi
ol
at
edsect
i
on12(
1)oft
heSEBIActandr
egul
at
i
on7
oft
heDTRegul
at
i
ons.I
nvi
ewoft
heseobser
vat
i
ons,
i
tcanbesai
dt
hatt
hepr
ovi
si
ons
ofsect
i
on117Boft
heCompani
esAct
,
1956havenotbeencompl
et
el
ycompl
i
edwi
t
h.
16. Fort
heabover
easons,I
,i
nexer
ci
seoft
hepower
sconf
er
r
eduponmeunder
sect
i
on19oft
heSecur
i
t
i
esandExchangeBoar
dofI
ndi
aAct
,
1992r
eadwi
t
hsect
i
ons
11(
1)
,11(
4)
,11Aand11Bt
her
eofandr
egul
at
i
on28oft
heSEBI(
I
ssueandLi
st
i
ngof
DebtSecur
i
t
i
es)Regul
at
i
on,
2008her
ebyi
ssuet
hef
ol
l
owi
ngdi
r
ect
i
ons:
(
a)RamelRealEst
at
e& I
nf
r
ast
r
uct
ur
e Li
mi
t
ed and i
t
s di
r
ect
or
s/
pr
omot
er
s
i
ncl
udi
ngMr
.Remendr
aMohanSar
kar
,Mr
.RameswarPodder
,Mr
.Sukant
a
DebandMr
.Par
t
haDas,j
oi
nt
l
yandsever
al
l
y,shal
lf
or
t
hwi
t
hr
ef
undt
hemoney
col
l
ect
edbyt
heCompanyt
hr
ought
hei
ssuanceofNonConver
t
i
bl
eDebent
ur
es
(
whi
chhavebeenf
oundt
obei
ssuedi
ncont
r
avent
i
onoft
hepubl
i
ci
ssuenor
ms

st
i
pul
at
edundert
heCompani
esAct
,1956andt
heI
LDSRegul
at
i
ons)
,t
ot
he
i
nvest
or
si
ncl
udi
ng t
he money col
l
ect
ed f
r
om i
nvest
or
s,t
i
l
ldat
e,pendi
ng
al
l
ot
mentofsecur
i
t
i
es,i
fany,wi
t
hani
nt
er
estof15%perannum compounded
athal
fyear
l
yi
nt
er
val
s,f
r
om t
hedat
ewhent
her
epayment
sbecamedue(
i
n

t
er
msofSect
i
on73(
2)oft
heCompani
esAct
,1956)t
ot
hei
nvest
or
st
i
l
lt
hedat
e
ofact
ualpayment
.
(
b)Ther
epayment
st
oi
nvest
or
sshal
lbeef
f
ect
ed onl
yi
n cash t
hr
ough Bank
DemandDr
af
torPayOr
der
.
(
c)TheCompany/
i
t
spr
esentmanagementar
eper
mi
t
t
edt
osel
lt
heasset
soft
he
Companyonl
yf
ort
hesol
epur
poseofmaki
ngt
her
ef
undsasdi
r
ect
edaboveand
deposi
tt
hepr
oceedsi
nanEscr
owAccountopenedwi
t
hanat
i
onal
i
sedBank.
(
d)TheCompany,i
t
sdi
r
ect
or
sandot
herper
sonsnamedabove,shal
li
ssuepubl
i
c
not
i
ce,i
nal
ledi
t
i
onsoft
woNat
i
onalDai
l
i
es(
oneEngl
i
shandoneHi
ndi
)andi
n
Page18of18

onel
ocaldai
l
y(
i
nBengal
i
)wi
t
hwi
deci
r
cul
at
i
on,det
ai
l
i
ngt
hemodal
i
t
i
esf
or
r
ef
und,i
ncl
udi
ngdet
ai
l
sofcont
actper
sonsi
ncl
udi
ngnames,addr
essesand
cont
actdet
ai
l
s,
wi
t
hi
nf
i
f
t
eendaysoft
hi
sOr
dercomi
ngi
nt
oef
f
ect
.
(
e)Af
t
ercompl
et
i
ngt
heaf
or
esai
dr
epayment
s,t
heCompanyshal
lf
i
l
eacer
t
i
f
i
cat
e
ofsuchcompl
et
i
onwi
t
hSEBI
,wi
t
hi
naper
i
odoft
hr
eemont
hsf
r
om t
hedat
eof
t
hi
sOr
der
,
f
r
om t
woi
ndependentpeerr
evi
ewedChar
t
er
edAccount
ant
swhoar
e
i
nt
hepanelofanypubl
i
caut
hor
i
t
yorpubl
i
ci
nst
i
t
ut
i
on.Fort
hepur
poseoft
hi
s
Or
der
,a peer r
evi
ewed Char
t
er
ed Account
ant shal
lmean a Char
t
er
ed
Account
ant
,who has been cat
egor
i
zed so by t
he I
nst
i
t
ut
e ofChar
t
er
ed
Account
ant
sofI
ndi
a(
"
I
CAI
"
)
.
(
f
)RamelRealEst
at
e& I
nf
r
ast
r
uct
ur
e Li
mi
t
ed and i
t
s di
r
ect
or
s/
pr
omot
er
s
i
ncl
udi
ngMr
.Remendr
aMohanSar
kar
,Mr
.RameswarPodder
,Mr
.Sukant
a
DebandMr
.Par
t
haDas,ar
eal
sodi
r
ect
edt
opr
ovi
deaf
ul
li
nvent
or
yofal
lt
hei
r
asset
sandpr
oper
t
i
esanddet
ai
l
sofal
lt
hei
rbankaccount
s,demataccount
s
andhol
di
ngsofshar
es/
secur
i
t
i
es,
i
fhel
di
nphysi
calf
or
m.
(
g)I
ncaseoff
ai
l
ur
eoft
hecompany,RamelRealEst
at
e&I
nf
r
ast
r
uct
ur
eLi
mi
t
ed
and i
t
s di
r
ect
or
s/
pr
omot
er
si
ncl
udi
ng Mr
.Remendr
a Mohan Sar
kar
,Mr
.
RameswarPodder
,
Mr
.Sukant
aDebandMr
.Par
t
haDas,
,
i
ncompl
yi
ngwi
t
ht
he
af
or
esai
ddi
r
ect
i
ons,SEBI
,ont
heexpi
r
yoft
het
hr
eemont
hsper
i
odf
r
om t
he
dat
eoft
hi
sor
der
,
a)shal
lr
ecoversuchamount
si
naccor
dancewi
t
hsect
i
on28Aoft
heSEBI
Acti
ncl
udi
ngsuchot
herpr
ovi
si
onscont
ai
nedi
nsecur
i
t
i
esl
aws.
b)mayi
ni
t
i
at
e appr
opr
i
at
e act
i
on agai
nstt
he Company,i
t
s pr
omot
er
s/
di
r
ect
or
s and t
he per
sons/ of
f
i
cer
s who ar
ei
n def
aul
t
,i
ncl
udi
ng
adj
udi
cat
i
onpr
oceedi
ngsagai
nstt
hem,
i
naccor
dancewi
t
hl
aw.
c)woul
dmakear
ef
er
encet
ot
heSt
at
eGover
nment
/LocalPol
i
cet
or
egi
st
er
aci
vi
l
/cr
i
mi
nalcaseagai
nstt
heCompany,i
t
spr
omot
er
s,di
r
ect
or
sand
i
t
smanager
s/per
sonsi
nchar
geoft
hebusi
nessandi
t
sschemes,f
or
Page19of19

of
f
encesoff
r
aud,
cheat
i
ng,
cr
i
mi
nalbr
eachoft
r
ustandmi
sappr
opr
i
at
i
on
ofpubl
i
cf
unds;and
d)woul
dal
somakear
ef
er
encet
ot
heMi
ni
st
r
yofCor
por
at
eAf
f
ai
r
s,t
o
i
ni
t
i
at
et
hepr
ocessofwi
ndi
ngupoft
heCompany.
(
h)RamelRealEst
at
e& I
nf
r
ast
r
uct
ur
e Li
mi
t
ed i
s di
r
ect
ed nott
o,di
r
ect
l
y or
i
ndi
r
ect
l
y,accesst
hecapi
t
almar
ketbyi
ssui
ngpr
ospect
us,of
f
erdocumentor
adver
t
i
sementsol
i
ci
t
i
ngmoneyf
r
om t
hepubl
i
candar
ef
ur
t
herr
est
r
ai
nedand
pr
ohi
bi
t
edf
r
om buyi
ng,sel
l
i
ngorot
her
wi
sedeal
i
ngi
nt
hesecur
i
t
i
esmar
ket
,
di
r
ect
l
yori
ndi
r
ect
l
yi
nwhat
soevermanner
,f
r
om t
hedat
eoft
hi
sOr
dert
i
l
lt
he
expi
r
yof4year
sf
r
om t
hedat
eofcompl
et
i
onofr
ef
undst
oi
nvest
or
sasdi
r
ect
ed
above.
(
i
)Mr
.Remendr
aMohanSar
kar
,
Mr
.RameswarPodder
,
Mr
.Sukant
aDebandMr
.
Par
t
haDasar
er
est
r
ai
nedf
r
om accessi
ngt
hesecur
i
t
i
esmar
ketandf
ur
t
her
pr
ohi
bi
t
edf
r
om buyi
ng,sel
l
i
ngorot
her
wi
sedeal
i
ngi
nt
hesecur
i
t
i
esmar
ket
,
di
r
ect
l
yori
ndi
r
ect
l
yi
nwhat
soevermanner
,
wi
t
hi
mmedi
at
eef
f
ect
.Theyar
eal
so
r
est
r
ai
nedf
r
om i
ssui
ngpr
ospect
us,of
f
erdocumentoradver
t
i
sementsol
i
ci
t
i
ng
moneyf
r
om t
he publ
i
c and associ
at
i
ng t
hemsel
ves wi
t
h anyl
i
st
ed publ
i
c
companyandanypubl
i
ccompanywhi
chi
nt
endst
or
ai
semoneyf
r
om t
hepubl
i
c,
oranyi
nt
er
medi
ar
yr
egi
st
er
edwi
t
hSEBI
.Theabovedi
r
ect
i
onsshal
lcomei
nt
o
f
or
cewi
t
hi
mmedi
at
eef
f
ectandshal
lcont
i
nuet
obei
nf
or
cef
r
om t
hedat
eof
t
hi
sOr
dert
i
l
lt
heexpi
r
yof4year
sf
r
om t
hedat
eofcompl
et
i
onofr
ef
undst
o
i
nvest
or
s,
asdi
r
ect
edabove.
(
j
)Fort
hevi
ol
at
i
ons(
i
.
e.act
edasdebent
ur
et
r
ust
eewhent
heywer
enotel
i
gi
bl
et
o

actas debent
ur
et
r
ust
ees and act
ed so wi
t
houtr
egi
st
r
at
i
on f
r
om SEBI
)
commi
t
t
ed by Ramel Real Est
at
e and I
nf
r
ast
r
uct
ur
e Debent
ur
e Tr
ust
(
r
epr
esent
edbyi
t
sTr
ust
ee,Mr
.Sanj
oyDeb)
,t
heyar
eher
ebyr
est
r
ai
nedf
r
om
act
i
ng as an i
nt
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ar
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he secur
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es mar
ketand f
ur
t
her
Page20of20

r
est
r
ai
ned f
r
om buyi
ng,sel
l
i
ng or deal
i
ng i
n secur
i
t
i
es,i
n any manner
what
soever
,
f
oraper
i
odof4year
s.
17. Theabovedi
r
ect
i
onsshal
lcomei
nt
of
or
cewi
t
hi
mmedi
at
eef
f
ect
.
18. Thi
s Or
deri
s wi
t
houtpr
ej
udi
ce t
o any act
i
on,i
ncl
udi
ng adj
udi
cat
i
on and
pr
osecut
i
onpr
oceedi
ngst
hatmi
ghtbet
akenbySEBIi
nr
espectoft
heabovevi
ol
at
i
ons
commi
t
t
edbyt
heCompany,i
t
spr
omot
er
s,di
r
ect
or
si
ncl
udi
ngf
or
merdi
r
ect
or
sand
ot
herkeyper
sons.
19. Copyoft
hi
sOr
dershal
lbef
or
war
dedt
ot
her
ecogni
sedst
ockexchangesand
deposi
t
or
i
esf
ori
nf
or
mat
i
onandnecessar
yact
i
on.
20. A copyoft
hi
sOr
dershal
lal
so bef
or
war
ded t
ot
heMi
ni
st
r
yofCor
por
at
e
Af
f
ai
r
s/
concer
nedRegi
st
r
arofCompani
es,f
ort
hei
ri
nf
or
mat
i
onandnecessar
yact
i
on
wi
t
hr
espectt
ot
hedi
r
ect
i
ons/
r
est
r
ai
nti
mposedaboveagai
nstt
heCompanyandt
he
i
ndi
vi
dual
s.

PRASHANTSARAN
WHOLETI
MEMEMBER
SECURI
TI
ESANDEXCHANGEBOARDOFI
NDI
A
Dat
e:Febr
uar
y08th,
2016
Pl
ace:Mumbai

Page21of21