sebi:CO/155/CIS/09/2002
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Facts / Headnote
Direction to refund money collected under the scheme(s) with returns due to investors within one month, failing which prosecution, debarring, referral to police, and winding-up proceedings would follow.
Provisions invoked
- s. 11B
- s. 24
- s. 12
Regulations
- Reg. 73(1)
- Reg. 74
- Reg. 73
- Reg. 73(2)
- Reg. 65
- Reg. 5(1)
- Reg. 68(1)
- Reg. 30A
Parties
- M/s. Chotnagpur Herbal Agro Pvt. Ltd., Rajgangpur (Orissa)
Holding
SEBI directed M/s. Chotnagpur Herbal Agro Pvt. Ltd. to refund the money collected under its Collective Investment Scheme(s) with returns due to investors within one month of the order, failing which prosecution, debarring from the capital market for 5 years, referral to police, and winding-up proceedings would be initiated.
Full text
Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ DIRECTIONS UNDER SECTION 11B OF THE SEBI ACT, 1992 READ WITH REGULATIONS 65,73 & 74 OF SEBI (COLLECTIVE INVESTMENT SCHEMES) REGULATIONS, 1999 TO
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Now, therefore, in exercise of the powers conferred upon me under section 11B of the SEBI Act, 1992 , in terms of Regulation 65 of the Regulations, I hereby direct you to refund the money collected under the scheme(s) with returns which is due to the investors as per the terms of the offer within a period of one month from the date of this Order failing which the following actions would follow: Initiation of prosecution under section 24 of SEBI Act, 1992 which prescribes imprisonment for a term which may extend to one year, or with fine, or with both against you/your promoters/your directors/your managers/persons in charge of the business of your scheme. You/your promoters/your directors/your managers/persons in charge of the business of your scheme would be debarred from operating in the capital market and from accessing the capital market for a period of 5 years. Writing to the state governments/local police to register civil/criminal cases against you for apparent offences of fraud, cheating, criminal breach of trust and mis- appropriation of public funds. Writing to the Department of Company Affairs to initiate the process of winding up of your company. Place: Mumbai Date: September 3 ,2002 G.N. Bajpai Chairman Securities and Exchange Board of India 1. 2. 3. 4.
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Source: SecMarx — sebi:CO/155/CIS/09/2002. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.