MBK Business Development (India) has been restrained by SEBI to raise secured redeemable debentures, equity shares and any securities for violating debt securities regulations and debenture trustee regulations. SEBI in an interim order on Thursday, prohibited the company’s directors, from soliciting money from the public for issuing securities.
SEBI found that MBK had raised funds from thousands of investors through issue of secured redeemable debentures and as a result had “prima facie” violated regulatory norms. The issue came to light when SEBI was scrutinising several applications for debenture issues, MBK being one of them.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.