SEBI bars Rahul Inn Hospitality from mobilising funds from investors
Moneylife Digital Team 12 August 2015
The company was engaged in fund mobilising activity through issue of Secured Redeemable Debentures 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, according to a SEBI Order
 
SEBI passed an order directing Rahul Inn Hospitality from directing the company not to mobilise funds from investors. Further, the company, its present and past directors are prohibited from issuing prospectus or any offer document or issue advertisement for soliciting money from the public for the issue of securities.
 
The company and its directors have been directed not to dispose of 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, which are kept in bank accounts.
 
The company was engaged in fund mobilising activity through issue of Secured Redeemable Debentures 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.
 
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