Sebi also barred AAFl and its directors from disposing of their assets or diverting funds raised from public by issuing these securities. Photo: ReutersNew Delhi: The Security and Exchange Board of India (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. It had received complaints against the company with regard to mobilisation 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. Besides, it raised Rs192.83 lakh through secured redeemable debentures to 668 persons in 2010-11 and another 133 persons in 2011-12.

Source: Mint September 19, 2017 11:48 UTC