SEBI asks Golden Life Agro India to refund money collected from investors
Moneylife Digital Team 13 January 2015

Golden Life Agro and its promoter-directors have also been restrained and prohibited from buying, selling or otherwise dealing in the securities market for four years


Market regulator Securities and Exchange Board of India (SEBI) has asked Golden Life Agro India Ltd and its directors and promoters to refund money collected from investors with 15% interest per annum. SEBI also barred the company and its promoter-directors from markets for four years. 
The Debenture Trustees,  Jyotsna Sadhukhan and  Jharna Sarkar shall not offer themselves to be engaged as debenture trustees or in any capacity as an intermediary in the securities market. Further, these individuals are restrained from accessing the securities market and are further restrained from buying, selling or dealing in securities, in any manner whatsoever, for a period of four years, SEBI said. 
The company was engaged in fund mobilising activity through issuance of Non-Convertible Redeemable Secured Debentures, to more than 49 persons, without complying with the relevant provisions of the Companies Act and provisions of SEBI Regulations.
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