sebi:Order/GR/KG/2020-21/10113-10117
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Facts / Headnote
Penalty imposed on all five Noticees for operating an unregistered Collective Investment Scheme
Provisions invoked
- s. 11B
- s. 11A
- s. 11
- s. 15
- s. 19
- s. 12
- s. 11(2)
- s. 15I
- s. 15J
- s. 15F
- s. 28A
- s. 15D
- s. 15I(1)
- s. 58A
Regulations
- Reg. 3
Parties
- Nicer Green Housing and Infrastructure Developers Limited
- Mr. Pipal Singh Sidhu
- Mr. Ranjit Singh
- Ms. Surinder Kaur
- Mr. Karanjit Singh
Holding
The Noticee No.1 (Nicer Green Housing and Infrastructure Developers Limited) and its four directors were held liable for launching and carrying on a Collective Investment Scheme without obtaining registration from SEBI, in contravention of Section 12(1B) of the SEBI Act and Regulation 3 of the CIS Regulations, and a penalty of Rs. 70,00,000 was imposed under Section 15D(a) of the SEBI Act.
Full text
Adjudication Order in respect of five entities in the matter of Nicer Green Housing and Infrastructure Developers Limited
Adjudication Order in respect of five entities in the matter of Nicer Green Housing and Infrastructure Developers Limited
Adjudication Order in respect of five entities in the matter of Nicer Green Housing and Infrastructure Developers Limited
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Source: SecMarx — sebi:Order/GR/KG/2020-21/10113-10117. 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.