Description
SEBI prohibits Mr. Masur Ahmed Basheer from securities market for 1 year in connection with Weird Infrastructure Corporation Limited matter.
Summary
SEBI has issued a prohibition order against Mr. Masur Ahmed Basheer, restricting him from buying, selling or dealing in securities market for 1 year from August 21, 2025, in connection with the Weird Infrastructure Corporation Limited matter involving illegal fund mobilization through NCDs.
Key Points
- Mr. Masur Ahmed Basheer prohibited from securities market activities for 1 year effective August 21, 2025
- Order relates to previous SEBI action against Weird Infrastructure Corporation Limited from 2015
- Original case involved illegal issuance of ₹16.28 crore worth of Non-Convertible Debentures to public
- Seven entities/persons were previously restrained for 4 years after investor repayments
- Consolidated list of debarred entities available on NSE website
Regulatory Changes
No new regulatory framework changes. This is an enforcement action under existing SEBI Act provisions (Sections 11(1), 11(4) and 11B(1)).
Compliance Requirements
- NSE members must take note of the prohibition and ensure compliance
- Members should refer to consolidated debarred entities list on NSE website
- Any queries to be directed to dl-invsg-all@nse.co.in
- Prohibition applies to direct or indirect securities market dealings
Important Dates
- August 21, 2025: Effective date of prohibition order against Mr. Masur Ahmed Basheer
- August 21, 2026: Prohibition expires (1 year duration)
- July 27, 2015: Original SEBI order against Weird Infrastructure Corporation Limited
Impact Assessment
Limited direct market impact as this affects one individual. However, reinforces SEBI’s continued enforcement actions in fund mobilization cases and serves as deterrent for similar violations. Members need to update their compliance systems with the new prohibition.
Impact Justification
Individual prohibition order with limited market impact but important for compliance awareness