- Tuesday, April 23, 2024
By: Eastern Eye Staff
Regulator Sebi has barred Kolkata -based Agragami Agro Farms Ltd (AAFL) and its directors from the capital markets for raising funds without complying with the public issue norms. The directive would remain in force until further orders, the Securities and Exchange Board of India (Sebi) said in an order dated September 18. It had received complaints against the company with regard to mobilization of money through issuance of redeemable preference shares and secured redeemable debentures. According to a Sebi probe, AAFL had allotted redeemable preference shares to 60 persons in 2008 09 and 83 persons in 2009 10. It mobilised about Rs 56.98 lakh through such issuances. Besides, it raised Rs 192.83 lakh through secured…
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