Order in respect of Geoshine Mines 2 Metals LImited

The Securities and Exchange Board of India (SEBI) has issued an order directing Geoshine Mines 2 Metals Limited to refund the money collected from investors through the issuance of RCPS in FY 2012-13, including application money, with interest of 15% per annum. The company and its directors, Chhotelal Shukla, Shivanand Mishra, Deena Nath Maurya, and Vishwa Bandhu Vashistha, are also restrained from accessing the securities market, issuing prospectus, or soliciting money from the public for a period of two years.

The order also directs the company to issue a public notice detailing the modalities for refund, including contact information, within 15 days. The repayments and interest payments to investors will be effected through Bank Demand Drafts or Pay Orders or electronic fund transfers, ensuring audit trails to identify beneficiaries.

Additionally, the directors are prevented from selling assets, properties, or holding mutual funds/shares/sectors in demat and physical form except for making refunds as directed. The banks are also directed to allow debit only for the purpose of making refunds.

The order further directs that after completing the refunds, Geoshine Mines 2 Metals Limited will file a report with SEBI within 15 days, certified by an independent Chartered Accountant. The direction will cease to operate upon filing of such report on completion of refunds to the investors.