Sebi bars 3 cos, related entities from capital market

Sebi today barred three companies and their related entities from the securities market for illegally raising money from the public.
The restrictions have been imposed, till further orders, on Yash Dream Real Estate Ltd, Just-Reliable Projects India Ltd and Option One Industries Ltd. The three companies have also been barred from soliciting money from the public, according to three separate orders issued by Sebi.
Besides Yash Dream Real Estate, the regulator has barred its promoters and directors including Amit Kumar Shrivastava, Neeta Shrivastava, Nitin Shrivastava, Reebha Shrivastava, Sindhu Singadhe, Deepak Singare and Pooja Tandan from the capital market.
Yash Dream Real Estate's case pertains to raising funds through Unsecured Optionally Fully Convertible Bonds.

The directors of Just-Reliable Projects India have also been barred from the market for alleged discrepancy in the repayment amount in respect of Redeemable Preference Shares issued by Just-Reliable Projects India.
With regard to Option One Industries, Sebi restrained its executives Vishal Masih, Anuj Jain, Rohit Singhai and Sameer Agarwal.

Other entities barred in the case are Optionone Trade and Mercantile Pvt Ltd, its past and directors including Rajendra Agarwal, Vivek Chaurasia and Vinod Kumar Shrivastava; Advantage Tradecom India Pvt Ltd as well as its two directors Sunil Pahadiya and Sachin Jain.
Option One Industries' case relates to alleged raising of funds illegally by way of issuing Secured Non-Convertible Debentures.

All these entities have been prohibited from issuing prospectus or any offer document or issue advertisement for soliciting money from the public for the issue of securities.