To

All Trading Members of the Exchange 

Sub:  Final Order under Sections 11, 11(4) and Section 11B of The Securities and Exchange Board of India Act, 1992 in the matter of BSP Infrastructure & Construction Limited (BICL).

In continuation to the Exchange Notice No. 20180912-39 dated September 12, 2018 on the captioned matter. 

SEBI now, vide its order no. WTM/AB/EFD-I /DRA-IV/13/2020-21 dated October 27, 2020 has inter-alia issued following directions:

·         BlCL (Noticee no. 1) and Pradip Samaddar (Noticee no. 3) are directed not to, directly or indirectly, access the securities market, by issuing prospectus, offer document or advertisement soliciting money from the public and are prohibited from buying, selling or otherwise dealing in the securities market, directly or indirectly in whatsoever manner for a period of 4 (four) years from date of this order or till the completion of refund to investors as directed above, whichever is earlier.

·         Sushanta Nandy (Noticee no. 12) is directed not to, directly or indirectly, access the securities market, by issuing prospectus, offer document or advertisement soliciting money from the public and is prohibited from buying, selling or otherwise dealing in the securities market, directly or indirectly in whatsoever manner, for a period of 3 (three) years from date of this order.

·         Biplap Bose (Noticee no. 2), Gopal Chandra Ghosh (Noticee no. 4), Bidhan Ojha (Noticee no. 5), Parimal Ghosh (Noticee no. 6), Komaju Krishna Achary (Noticee no. 7), Chitta Ranjan Das (Noticee no. 8), Surendra Kumar Panigrahi (Noticee no. 9), Ratikanta Mishra (Noticee no. 10), Saiful Islam Khan (Noticee no. 11), Rekha Bose (Noticee no. 17), Kajal Das (Noticee no. 18) and Asit Bose (Noticee no. 19) are directed not to, directly or indirectly, access the securities market, by issuing prospectus, offer document or advertisement soliciting money from the public and are prohibited from buying, selling or otherwise dealing in the securities market, directly or indirectly in whatsoever manner, for a period of 2 (two) years from date of this order.

• The allegations in the Interim Order against Siddheshwar Mondal (Noticee no. 14) and Tarun Kumar Saha (Noticee no. 15) stands disposed of. However, Noticees no. 14 and 15, as the present directors of BICL (Noticee no. 1), shall ensure that the aforesaid directions for refund to investors against the company are complied with.
• Amol Sardar and Swapna Sammadar (Noticees no. 13 and 16 to the Interim Order) against whom direction given in para 25 of the Interim Order were to come into effect due to non-filing of reply or not making of request for personal hearing,

a)       Directed to revoke the the directions of refund and debarment against Noticee no. 13, as Noticee no. 13 was not a director of BICL (Noticee no. 1) during the period when the Secured Redeemable Debentures were issued to the public and direct that Noticee no. 13, being the present director of BICL since March 24, 2018, shall ensure that the aforesaid directions of refund against the company (Noticee no. 1) are complied with.

b)       Revoke the directions of refund against Noticee no. 16, in view of the findings recorded in paras 38 and 39 above. However, the directions of debarment, as contemplated in para 25 of the Interim Order, shall operate against Noticee no. 16 as it stood confirmed in terms of said para 25 of the Interim Order due to non-filing of reply or not making of request for personal hearing.

This Order is effective from the date of the order.

A copy of the said Order is attached herewith and also available on the SEBI website www.sebi.gov.in.

Trading members are advised to take note of the same and ensure compliance.

Rajesh Dubey                                                                                                                       Avijit Sarkar                           

Associate Manager                                                                                                             Deputy Manager 

Surveillance                                                                                                                          Surveillance

Date:  October 27, 2020