Clamps down on potato investment scheme
11 years, 11 months ago

Clamps down on potato investment scheme

The Hindu  

Clamping down on a bizarre scheme, promising returns of up to 100 per cent through investments in purchase of potatoes, the Securities and Exchange Board of India, on Wednesday, asked the operator of this scheme not to raise any further money from the public. “Sumangal Industries has to be prevented from carrying on further with its activity related to the collective investment scheme without obtaining due registration from SEBI in accordance with law,” the regulator said in an order. The company has been directed not to launch any other collective investment scheme without SEBI’s approval. SEBI began investigating the matter after it came across a newspaper Thereafter in October, 2012, the market regulator informed the company that no entity could carry on or sponsor or launch a collective investment scheme without obtaining a certificate from it. It also denied that it was running a collective investment scheme and submitted that the question of obtaining a certificate of registration from SEBI did not arise.

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History of this topic

SEBI Teams Up With DigiLocker To Tackle Unclaimed Assets And Boost Investor Protection
1 week, 2 days ago

SEBI Teams Up With DigiLocker To Tackle Unclaimed Assets And Boost Investor Protection

ABP News  

The Securities and Exchange Board of India on Wednesday partnered with DigiLocker to help investors track their securities holdings and reduce unclaimed financial assets. This initiative, outlined in the SEBI’s circular titled "Harnessing DigiLocker as a Digital Public Infrastructure for Reducing Unclaimed Assets in the Indian Securities Market," aims to enhance investor protection and streamline access to financial holdings. By …

Sebi bans finfluencers from using live stock prices, tightens crackdown on illegal advisories
1 month, 4 weeks ago

Sebi bans finfluencers from using live stock prices, tightens crackdown on illegal advisories

New Indian Express  

MUMBAI: The markets regulator Sebi, which has been after the so-called financial influencers or finfluencers who are tricking the gullible public into investing in stocks they get paid to recommend, for long, has delivered a major blow to them by restricting their use of live-market data/prices in their what they call educational content. The key prohibitive measures include not allowing …

Front running case: Sebi bans 2 persons from securities market for 6-month
2 months ago

Front running case: Sebi bans 2 persons from securities market for 6-month

Live Mint  

New Delhi, Markets regulator Sebi on Tuesday restrained two persons from the securities market for six months and directed them to disgorge ₹34.26 lakh "wrongful gains" made by them through their involvement in front-running activities. Ltd. in the cash market and equity derivatives segments of NSE by its dealer Kadam in the trading account of Bhatkar based on the impending …

Sebi to simplify registration for FPIs looking to invest in govt securities
2 months, 2 weeks ago

Sebi to simplify registration for FPIs looking to invest in govt securities

Live Mint  

Mumbai: India's capital markets regulator is set to ease the registration of foreign portfolio investors if they want to invest in government-backed securities, even as it proposed doubling the equity investment threshold set for granular disclosures by FPIs to ₹50,000 crore. "There will be zero requirements for a lot of things including investor group all that data will not be …

₹1 lakh cr of AIF investments structured to circumvent financial regulations: Sebi’s Narayan
3 months, 1 week ago

₹1 lakh cr of AIF investments structured to circumvent financial regulations: Sebi’s Narayan

Live Mint  

Mumbai, Dec 17 About a fifth of all investments by AIFs has been structured to circumvent existing financial regulations like the ones on non-performing assets classification, Sebi's whole-time member Ananth Narayan G said on Tuesday. "'.of the ₹4.5 lakh crore of investments, around ₹1 lakh crore.has been questionable in terms of the regulatory intent behind those investments," he said. Sebi …

Sebi norms may have partly fuelled recent FPI sell off
3 months, 3 weeks ago

Sebi norms may have partly fuelled recent FPI sell off

Live Mint  

MUMBAI : Was the humongous foreign portfolio investor selling of the past two months driven only by poor corporate earnings and rising bond yields in the US? One fund manager said some of the funds awaited global index provider MSCI's rebalancing of its Emerging Markets Index on 25 November. Another fund manager said the circular has been "a matter of …

Sebi's Demat Reform: A Step Towards Financial Inclusion for Collective Entities
5 months ago

Sebi's Demat Reform: A Step Towards Financial Inclusion for Collective Entities

Live Mint  

India is taking significant steps towards financial inclusion and regulatory simplification with the Securities and Exchange Board of India (Sebi) proposing a key reform for non-corporate entities. The proposal allows Associations of Persons (AoPs) to open demat accounts in their names for holding non-equity securities. This reform aims to enhance the ease of doing business for entities such as housing …

Illegal Investment Advisory: SEBI Asks Fraud Advisor To Refund Rs. 27.67 Lakh To Investors
7 months ago

Illegal Investment Advisory: SEBI Asks Fraud Advisor To Refund Rs. 27.67 Lakh To Investors

Live Law  

The Securities and Exchange Board of India has imposed a one-year ban on Siddharth Pandey of Snigdha Equity Advisory following violations of regulatory standards concerning investment advisory services. SEBI's examination of Pandey's Know-Your-Customer documents, bank statements, and communication records uncovered that he was offering investment advisory services without the required registration. Further Pandey's online presence revealed a Facebook profile under …

Sebi limits passive mutual funds schemes investing in sponsor group companies
8 months, 2 weeks ago

Sebi limits passive mutual funds schemes investing in sponsor group companies

Hindustan Times  

Passive mutual funds will now have investment limits on the shares of the sponsor group companies, according to new rules notified on Monday by the Securities and Exchange Board of India. Equity-oriented exchange-traded funds and index fund investments in the sponsor group companies are capped at 35% of the scheme's net asset value. Mutual fund schemes excluding ETFs and index …

Sebi closes probe into former Unitech promoters, cites lack of evidence
9 months, 1 week ago

Sebi closes probe into former Unitech promoters, cites lack of evidence

Live Mint  

The Securities and Exchange Board of India has closed an investigation against Unitech Ltd's former promoters Sanjay Chandra and Ajay Chandra over allegations of stock manipulation. Lack of sufficient corroborative evidence Sebi chief general manager G. Ramar, the adjudicating officer in the case, observed in the order that there was a lack of sufficient corroborative evidence to establish the allegation …

SEBI sets conditions for National Stock Exchange IPO. These are…
1 year, 3 months ago

SEBI sets conditions for National Stock Exchange IPO. These are…

Hindustan Times  

The Securities and Exchange Board of India has laid down some important conditions for the National Stock Exchange's proposed initial public offering, media reports said on Monday. According to Zee Business, the NSE had filed its draft papers for the IPO with SEBI in December 2016, with a plan to raise ₹10,000 crore from the public issue, which was planned …

Sebi developing AI tool to detect misselling by mutual funds: Chairperson
1 year, 6 months ago

Sebi developing AI tool to detect misselling by mutual funds: Chairperson

Live Mint  

In its bid to detect misselling by mutual funds, market regulator Securities Exchange Board of India is working on an artificial intelligence tool, its chairperson Madhabi Puri Buch said as per news agency PTI. Madhabi Puri Buch said that algorithms are being built to detect such misspellings, like the one that happened with the 90-year-old. Regulation of mutual funds While …

SEBI suggests maintaining a distance between intermediaries and ‘finfluencers’. Here are 4 key reasons
1 year, 7 months ago

SEBI suggests maintaining a distance between intermediaries and ‘finfluencers’. Here are 4 key reasons

Live Mint  

The Securities and Exchange Board of India has introduced a proposal to limit interactions between its regulated entities and unregistered “finfluencers”. SEBI said in its consultation paper, “No SEBI registered intermediaries/regulated entities or their agents/representatives shall, directly or indirectly, have any association/relationship in any form, whether monetary or non-monetary, for any promotion or These proposed regulations would mandate that SEBI-regulated …

Sebi Allows Govt Stake In IDBI Bank To Be Reclassified As Public After Sale
2 years, 2 months ago

Sebi Allows Govt Stake In IDBI Bank To Be Reclassified As Public After Sale

News 18  

The Securities and Exchange Board of India has allowed the government’s shareholding in IDBI Bank to be reclassified as “public” after its stake sale on condition that its voting rights do not exceed 15 per cent, the lender said on Thursday. The government is looking to sell its 30.48 per cent stake in IDBI Bank, while state-backed LIC will offload …

Sebi bars 3 individuals from securities market for illegal investment advisory
2 years, 6 months ago

Sebi bars 3 individuals from securities market for illegal investment advisory

Live Mint  

Markets regulator Securities and Exchange Board of India on 31 August banned three individuals from the securities markets for providing unauthorised investment advisory services. The latest proceedings took place after SEBI issued a show cause notice dated 31 July, 2021 to RNS Global Capital and its proprietors' -- Lakhan Chouhan, Rohit Soni and Shivani Thakur -- alleging that they were …

Sebi bans 4 entities for providing unauthorised investment advisory services
4 years, 7 months ago

Sebi bans 4 entities for providing unauthorised investment advisory services

India TV News  

Sebi has barred Money Increase, Venture Revenue and two individuals from the capital markets for providing unauthorised investment tips and falsely promising assured returns to investors. Sebi found that Chourasiya through its proprietorship of Money Increase and Venture Revenue was providing trading tips and stock specific recommendations to investors and the general public on payment of services. "Ashish Chourasiya through …

Sebi amends regulations; provides more relaxation for companies to raise funds
4 years, 9 months ago

Sebi amends regulations; provides more relaxation for companies to raise funds

India TV News  

Markets watchdog Sebi has amended regulations to provide more leeway for companies to raise funds, including reducing the time gap between two qualified institutional placements to two weeks, amid the coronavirus pandemic. This is especially important as companies are finding it difficult to access alternate methods of funding such as debt financing or access equity funding from third party investors," …

Sebi asks brokers, fund houses, others to ensure compliance with prevention of unlawful acts
5 years, 1 month ago

Sebi asks brokers, fund houses, others to ensure compliance with prevention of unlawful acts

India TV News  

Capital markets regulator Sebi on Tuesday asked stock brokers, mutual fund houses and other market intermediaries to ensure strict compliance with the prevention of unlawful activities law. In a statement, Sebi advised market intermediaries to ensure compliance with instructions pertaining to UAPA or The Unlawful Activities Act. In addition, the regulator has asked market entities to ensure that accounts are …

Sebi gets tough
5 years, 1 month ago

Sebi gets tough

Live Mint  

The Securities and Exchange Board of India has tightened rules that apply to investment advisory services. The market regulator has also prohibited investment advisers from hawking products to their clients. Not all retail investors fully grasp the conflict of interest inherent in advice offered by someone who makes money off the investment being advised. Too many people find themselves lumped …

Sebi plans to ease FPI norms; will allow clubbing of investment limits
6 years, 3 months ago

Sebi plans to ease FPI norms; will allow clubbing of investment limits

Live Mint  

New Delhi: In a series of reforms, capital markets regulator Securities and Exchange Board of India is planning to expand its Offer For Sale framework to more companies, relax its norms for clubbing of investment limits by established foreign investors and tighten insider trading rules. The regulator is also planning to relax its disclosure norms for housing finance companies and …

SEBI mulls reaching govt to seek powers to intercept calls, electronic communications of serious economic offenders
6 years, 6 months ago

SEBI mulls reaching govt to seek powers to intercept calls, electronic communications of serious economic offenders

Firstpost  

Currently, SEBI has powers to seek call data records as part of its probes, but the committee is of the view that the regulator needs more powers to assist in its regulatory responsibilities. Mumbai: To bolster its evidence-gathering mechanism, Securities and Exchange Board of India Tuesday said it may approach the government to seek powers to intercept calls and electronic …

Sebi bans fugitive economic offender from making open offer; move to prevent individual from taking control of listed firm
6 years, 6 months ago

Sebi bans fugitive economic offender from making open offer; move to prevent individual from taking control of listed firm

Firstpost  

In the event of failure of the delisting offer, SEBI has issued a framework for acquirers to fulfil the open offer obligations. New Delhi: Markets regulator SEBI has barred ‘fugitive economic offender’ from making an open offer or a competing offer for acquiring shares in a company. “No person who is a fugitive economic offender shall make a public announcement …

Sebi plans revised norms for recovery of investors' money in cases of illegal collective investment schemes
6 years, 9 months ago

Sebi plans revised norms for recovery of investors' money in cases of illegal collective investment schemes

Firstpost  

Sebi plans to put in place revised norms for recovering investors’ money in cases of illegal collective investment schemes, wherein a registered insolvency professional will be appointed as administrator to undertake sale of assets New Delhi: Sebi plans to put in place revised norms for recovering investors’ money in cases of illegal collective investment schemes, wherein a registered insolvency professional …

SEBI rejects Rose Valley Hotels and Entertainment director's plea to revoke four year market ban
6 years, 10 months ago

SEBI rejects Rose Valley Hotels and Entertainment director's plea to revoke four year market ban

Firstpost  

SEBI on Tuesday rejected a plea by Abhijit Dutta, a director at Rose Valley Hotels and Entertainment Ltd, for revoking the four-year securities market ban imposed on him New Delhi: SEBI on Tuesday rejected a plea by Abhijit Dutta, a director at Rose Valley Hotels and Entertainment Ltd, for revoking the four-year securities market ban imposed on him, citing that …

Paradise Papers: Sebi lens on firms for fund diversion, corporate governance lapses
7 years, 4 months ago

Paradise Papers: Sebi lens on firms for fund diversion, corporate governance lapses

Firstpost  

Sebi will coordinate with other regulators and govt agencies, while information would be sought from foreign regulators if required New Delhi: Markets regulator Sebi will look into alleged fund diversion and corporate governance lapses at various listed firms and their promoters, including those linked to Vijay Mallya, named in the leaked ‘Paradise Papers’. The ‘Paradise Papers’ investigation, carried out by …

Sebi bans Grass Root Finance, 13 cos from capital markets for raising funds by violating IPO norms – Firstpost
7 years, 5 months ago

Sebi bans Grass Root Finance, 13 cos from capital markets for raising funds by violating IPO norms – Firstpost

Firstpost  

The company had issued equity shares to 9,321 people between 1995-96 and 2006-07 and raised Rs 6.80 crore through such issuance. New Delhi: Regulator Sebi has banned Grass Root Finance & Investment Company Ltd and 13 others from the capital markets for raising funds without complying with the public issue norms. A probe by Sebi found that the company had …

Tax evasion via stocks: Sebi lifts trading ban on 244 entities
7 years, 6 months ago

Tax evasion via stocks: Sebi lifts trading ban on 244 entities

Firstpost  

Sebi has lifted trading ban on 244 entities which came under the scanner for alleged misuse of stock market platform for tax evasion, saying it did not find any “adverse evidence” against them New Delhi: Regulator Sebi has lifted trading ban on 244 entities which came under the scanner for alleged misuse of stock market platform for tax evasion, saying …

Security and Intelligence Services files DRHP with Sebi for Rs 500 cr IPO
8 years, 6 months ago

Security and Intelligence Services files DRHP with Sebi for Rs 500 cr IPO

Firstpost  

Proceeds of the issue will be utilised towards repayment of loan, funding working capital requirements and for general corporate purposes New Delhi: Security and Intelligence Services Wednesday filed their draft papers with market regulator Sebi to raise an estimated Rs 500 crore through an initial public offering. The IPO comprises fresh issue of shares worth Rs 362.25 crore and an …

Sebi cancels Sahara mutual fund licence – India TV
9 years, 8 months ago

Sebi cancels Sahara mutual fund licence – India TV

India TV News  

Mumbai: In a fresh crackdown on Sahara, regulator Sebi today cancelled the registration of Sahara Mutual Fund saying it was no longer ‘fit and proper' to carry out this business and ordered transfer of its operations to another fund house. In the latest order, Sebi directed cancellation of Sahara Mutual Fund's certificate of registration on expiry of a six-month period …

Are Fraudulent Collective Investment Schemes taking SEBI for a ride?
9 years, 9 months ago

Are Fraudulent Collective Investment Schemes taking SEBI for a ride?

Live Law  

Over the years, the aam aadmi of the country has been drenched into a series of crisis arising either due to nature’s fury or the greed of few fellow human beings and is often found at the receiving end without the possibility of recovery of lost ground. Law dealing with Collective Investment Scheme To regulate the behavior and clamping down …

SEBI bars three companies from mobilising public money
10 years ago

SEBI bars three companies from mobilising public money

The Hindu  

Clamping down on illegal money pooling activities, capital markets regulator Securities and Exchange Board of India has barred three companies from raising funds from the public, with immediate effect. The firms — Everlight Realcon Infrastructure Ltd, Tresty Securities Ltd and Real Vision International Ltd —— issued securities to over 50 persons each, which under the rules made it a public …

Entrepreneur-turned-housewives: Here's how SAT overturned Sebi's DLF ban
10 years ago

Entrepreneur-turned-housewives: Here's how SAT overturned Sebi's DLF ban

Firstpost  

All in all the ruling comes as a blow to SEBI which has stepped up its efforts to curb market manipulation Debt-laden Indian property developer DLF Ltd has won its appeal against a three-year ban from accessing capital markets imposed by the market regulator, a decision that overturned the country’s harshest ever regulatory punishment. 3) It was an individual complainant, …

Sebi warns public against illicit money pooling schemes
10 years, 2 months ago

Sebi warns public against illicit money pooling schemes

Firstpost  

The warning to investors comes after Sebi observed that certain entities were mobilising money through illegal investment schemes even after the regulator had directed them not to raise any further money and not to launch any new schemes, among others. Mumbai: Making public a list of 63 companies running illegal money pooling schemes, regulator Sebi today cautioned investors and general …

Sebi to bar wilful defaulters from raising funds
10 years, 2 months ago

Sebi to bar wilful defaulters from raising funds

India TV News  

New Delhi: Acting tough against wilful defaulters, market regulator Securities and Exchange Board of India has proposed barring entities declared as wilful defaulters from fund raising via primary markets and taking control of listed entities. In a discussion paper issued on Monday, Sebi also proposed that wilful defaulters should not be allowed to take control of other listed entities but …

SEBI bars Skylark from raising money from public
10 years, 3 months ago

SEBI bars Skylark from raising money from public

India TV News  

Mumbai: Cracking down on an illicit fund raising scheme related to agricultural land, the Securities and Exchange Board of India has barred Skylark Land Developers and Infrastructure India and its directors from mobilising money from investors, as well as from launching investment plans. The SEBI has prima facie found that the money pooling activity by the company was in the …

Sebi can withhold information on probe against RIL: CIC
10 years, 3 months ago

Sebi can withhold information on probe against RIL: CIC

India TV News  

New Delhi: The Central Information Commission has allowed Sebi to withhold the information on its probe into alleged short selling of shares by Reliance Industries Limited in 2007 saying investigation has not concluded yet. A full bench of the commission comprising three retired bureaucrats — Vijai Sharma, Manjula Prasher and M A Khan Yusufi — agreed with SEBI's contention that …

Rose Valley Group raised Rs 15,000 cr from investors: Government
10 years, 3 months ago

Rose Valley Group raised Rs 15,000 cr from investors: Government

India TV News  

New Delhi: West Bengal-based Rose Valley Group, which is facing clampdown by various agencies for running illicit money pooling schemes, is estimated to have raised Rs 15,000 crore from investors. Besides companies from this group, around 200 other entities are also being probed by various agencies, including Reserve Bank of India and Securities and Exchange Board of India, the government …

Sebi provides clarity on preferential issues, anchor investors
10 years, 6 months ago

Sebi provides clarity on preferential issues, anchor investors

Live Mint  

Mumbai: Providing more clarity, Securities and Exchange Board of India on Thursday said revised norms related to anchor investors and preferential share issues would be applicable prospectively from 25 August when the amended regulations came into force. Besides, Sebi has clarified that new anchor investor allocation would be applicable to companies which have filed offer documents with the Registrar of …

SEBI cracks down on companies raising public funds illegally
10 years, 7 months ago

SEBI cracks down on companies raising public funds illegally

The Hindu  

Regulator SEBI has begun coming down hard on entities raising public money illegally through issue of ‘redeemable preference shares’ and similar instruments, as also through sister concerns after being barred from markets. There are some sister concerns of companies that were earlier barred from raising funds as well as from launching investment schemes earlier, shows an analysis of recent orders …

SEBI gets teeth to bust illegal chit funds
10 years, 8 months ago

SEBI gets teeth to bust illegal chit funds

The Hindu  

The Cabinet Committee on Economic Affairs has approved of new powers for the SEBI to crack down on Ponzi schemes and illegal deposit schemes such as chit funds. The government will now introduce in Parliament the Securities Laws Bill to empower SEBI to attach properties, launch recovery proceedings and seek call-data records in its investigations of securities-related offences. SEBI Chairman …

SEBI unveils slew of reforms; PSUs to have 25% public holding
10 years, 9 months ago

SEBI unveils slew of reforms; PSUs to have 25% public holding

India TV News  

New Delhi: Capital markets regulator SEBI on Thursday cleared a slew of reforms including a proposal to hike public holding in all PSUs to a minimum 25 per cent besides new norms for research analysts and ESOPs given by listed firms. Besides, Offer for Sale mechanism will be revamped to allow non promoters to use this route for selling shares …

Sebi reforms: PSUs to have 25% public holding in 3 yrs, offer for sale norms relaxed
10 years, 9 months ago

Sebi reforms: PSUs to have 25% public holding in 3 yrs, offer for sale norms relaxed

Firstpost  

Another proposal approved by the board today included easing of the Offer For Sale norms wherein retail investors would be provided with 10 percent reservation and sellers of shares may also give discounts to retail investors. New Delhi: Capital markets regulator Sebi today cleared a slew of reforms including a proposal to hike public holding in all PSUs to a …

Sebi's board to consider market reforms this week
10 years, 9 months ago

Sebi's board to consider market reforms this week

India TV News  

New Delhi: With the aim of reviving the primary market, Sebi will this week consider wide-ranging rule changes, including the size of share sales and a mandatory minimum 25% public shareholding for listed PSUs. The proposed measures may help the government garner almost Rs 60,000 crore through share sales in listed public sector undertakings, deepen the markets and rationalise the …

Sebi may allow investors to sell stakes through OFS mechanism
10 years, 9 months ago

Sebi may allow investors to sell stakes through OFS mechanism

India TV News  

Mumbai: Market regulator Securities and Exchange Board of India today said it is considering a proposal to allow large investors of publicly listed firms to sell their stake through the offer-for-sale mechanism. “We are considering a proposal to allow large investors in publicly traded firms to sell their stakes through the OFS mechanism,” Sebi Chairman U K Sinha told reporters …

SEBI initiates proceeding against entities in ponzi schemes
10 years, 11 months ago

SEBI initiates proceeding against entities in ponzi schemes

The Hindu  

With the restoration of additional powers to take on fraudsters and market manipulators, SEBI has initiated proceedings against entities suspected to have indulged in ponzi-related schemes in >West Bengal and other parts of the country. With direct powers restored after a gap of two months, SEBI is also initiating prosecution and recovery proceedings in cases where wrongful activities had already …

Parliament unlikely to pass SEBI Amendment Bill
11 years, 1 month ago

Parliament unlikely to pass SEBI Amendment Bill

The Hindu  

Parliament is unlikely to take up the Bill giving search and seizure powers to the Securities and Exchange Board of India in the current session. Since the promulgation of the Ordinance, in July last year to tackle unregistered collective investment schemes, SEBI has initiated proceedings to recover an amount in excess of Rs.1,700 crore. The amendments bring in any investment …

Sebi introduces new admin regulations, refuses settlement of serious offences
11 years, 2 months ago

Sebi introduces new admin regulations, refuses settlement of serious offences

Firstpost  

The list of violations that cannot be settled have been expanded widely under the new norms, which also provide for the involved entity to file settlement plea within 60 days of the show-cause notice served by Sebi. Mumbai: Entities charged with serious offences like illegal money pooling, insider trading and fraudulent trades will not be able to settle these cases …

Recovery orders for over Rs 500cr issued in past 2 months:Sebi
11 years, 4 months ago

Recovery orders for over Rs 500cr issued in past 2 months:Sebi

India TV News  

Mumbai: Markets regulator Sebi today said it has ordered recovery of over Rs 500 crore from defaulting/ erring companies ever since the new search and seizure order was implemented two months ago. Though I don't have the exact number of bank accounts frozen, a number of accounts and assets have been frozen worth over Rs 500 crore,” Sebi chairman UK …

Sebi bars 36 entities for fraudulent preferential issue by SMS Techsoft
11 years, 4 months ago

Sebi bars 36 entities for fraudulent preferential issue by SMS Techsoft

Live Mint  

Mumbai: The Securities and Exchange Board of India, or Sebi, on Wednesday restrained SMS Techsoft Ltd., its three promoters, three independent directors, 28 other entities and one Rajesh Mangilal Ranka from accessing or dealing in the securities market till further directions, in connection with allegedly fraudulent dealings in the scrip of SMS Techsoft. Sebi said that following an examination it …

SEBI orders account attachment to recover Rs.1,520 cr from CIS firm
11 years, 5 months ago

SEBI orders account attachment to recover Rs.1,520 cr from CIS firm

The Hindu  

The Securities and Exchange Board of India, on Friday, ordered attachment of over 50 bank accounts of West Bengal-based MPS Greenery Developers for recovery of Rs.1,520 crore, along with applicable returns, collected from investors through illegal collective investment schemes. This is the first direct attachment order issued by SEBI in a case involving an unauthorised collective investment scheme, which has …

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