To protect investors from illegal mobilisation of funds, capital markets regulator Securities and Exchange Board of India (Sebi) has barred four companies and their directors from raising money by issuing securities.The move followed by a complaint against four companies including-Bishal Horticulture & Animal Projects, Bishal Distillers, Bishal Agri-Bio Industries and Bishal Abasan India. Sebi found that these companies had allotted redeemable preference shares (RPS) and non-convertible debentures (NCDs) worth more than Rs 12 crore to over 4,300 people.Sebi said that the companies had allegedly violated various norms and provisions of the Companies Act. The regulator observed that allotment of shares by these four companies was a public issue, which under the rules requires a compulsory listing on a recognised stock exchange. It was also required to file a prospectus, among others, which these companies failed to do.In four separate interim orders Sebi said, that these companies shall forthwith cease to mobilise any fresh funds from investors through the offer of RPS, NCDs or through issuance of any other securities, to the public or invite subscription, in any manner either directly or indirectly till further directions. It also said that the firms and their directors have been barred from issuing any offer document or advertisement for soliciting money from the public.