Final order in respect of Sumana Ghosh Roy in the matter of PDS Agro Industries Limited

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Last updated: 12 October 2020
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This final order from the Securities and Exchange Board of India (SEBI) concerns Ms. Sumana Ghosh Roy (Noticee no. 3) in the matter of PDS Agro Industries Ltd (PAIL). SEBI had previously issued an interim order against PAIL and its directors for illegally raising funds by issuing Redeemable Preference Shares (RPS) to numerous investors. The company was found to have prima facie violated provisions of the Companies Act, 1956, relating to public issue norms.

Court :
SEBI

Brief :
UNDER SECTIONS 11, 11(4) AND 11B OF THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 READ WITH SECTIONS 56, 60 AND 73 OF COMPANIES ACT, 1956

Citation :
WTM/AB/ERO/ERO/9380/2020-21

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