sebi:CO/427/CIS/12/2002

SEBI · SEBI · 2001-11-21 · G.N. Bajpai, Chairman, Securities and Exchange Board of India

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Facts / Headnote

Company, its promoters, directors, managers and persons in charge of the business of its scheme(s) debarred from operating, buying, selling or otherwise dealing in the capital market and from accessing the capital market for a period of five years from the date of the order.

Provisions invoked

s. 11B

Regulations

Reg. 73
Reg. 65
Reg. 30A
Reg. 70(1)(b)

Parties

M/s Green Country Bio-Tech Ltd., Chennai

Holding

SEBI debarred M/s Green Country Bio-Tech Ltd., its promoters, directors, managers and persons in charge of the business of its scheme(s) from operating in and accessing the capital market for five years for failing to comply with the directions dated 30.05.2002 requiring refund of money collected under its scheme(s) with returns to investors.

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 OF SEBI (COLLECTIVE INVESTMENT SCHEMES) REGULATIONS, 1992 ISSUED TO : M/s GREEN COUNTRY BIO-TECH LTD., CHENNAI M/s Green Country Bio-Tech Ltd., Chennai (hereinafter referred to as the Company) had applied for provisional registration under the provisions of SEBI (Collective Investment Schemes) Regulations, 1999 (hereinafter referred to as "Regulations"). However, the said application was rejected by SEBI as they did not fulfill the requirements of Regulation 70(1)(b) of the "Regulations". The rejection of application was communicated to the company vide SEBI’s letter dated 21.11.01 mentioning the grounds for rejection of the application. Vide said letter the company was advised that pursuant to the rejection of application, it was required to wind up its existing scheme(s) and make repayment to the investors in terms of Regulation 73 of the Regulations. Accordingly, the company was required to send an Information Memorandum to the investors who had subscribed to its scheme(s), within two months from the date of intimation from SEBI dt. 21.11.01. Further, on completion of the winding up and repayment to the investors in terms of Regulation 73, the company was required to file a "winding up and repayment report" in the format prescribed by SEBI, so as to reach SEBI within three and half months of the date of Informatio

1) Sri K Krishnaiah 14, Topu Street Triplicane Chennai 600005 2) Sri B Sreenaadha Reddy 4C, 20/1, Barnaby Road Kilpauk, Chennai 600010 Names of directors. 1) Sri K Krishnaiah 14, Topu Street Triplicane Chennai 600005 2) Sri B Sreenaadha Reddy 4C, 20/1, Barnaby Road Kilpauk, Chennai 600010 3) Sri K Srihari 23, New S.B.I Colony Dargamitta, Nellore 524004 4) Sri K D N Prasad 23, New S.B.I.Colony Pudalarkurt Road Nellore 524004 5) Sri H Sankaranarayanan 15, II Cross Street Karpagam Garden, Adyar Chennai 600020 6) Sri P Sreenivasulu Venkannapuram Post, Kodavaraluru, Mandal Nellore 524316 7) Sri Y. Krishna Reddy No.13, Hindi Prachar Sabha Street T.Nagar Chennai 600017 Names of managers/persons in-charge of business of schemes

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Source: SecMarx — sebi:CO/427/CIS/12/2002. 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.