sebi:WTM/GM/EFD/100/2017-18
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Directed Remac Realty and its present directors to wind up existing collective investment schemes and refund investors within three months with market and directorship restraints; revoked interim directions against Shri Arnab Roy and Shri Ganesh Kumar Bagaria.
Provisions invoked
- s. 11A
- s. 19
- s. 12
Regulations
- Reg. 65
- Reg. 3
- Reg. 4
- Reg. 4(2)(t)
Parties
- Remac Realty India Limited
- Shri Partha Pratim Tewari
- Shri Arnab Roy
- Shri Ganesh Kumar Bagaria
- Ms. Leena Tewari
- Ms. Reena Vijay
- Shri Sandip Chattopadhyay
- Shri Debapratim Mazumder
Holding
Remac Realty's schemes were held to be unregistered Collective Investment Schemes in violation of law, and Remac Realty with its present directors was directed to wind up the schemes and refund investors within three months with attendant restraints, while interim directions against two former directors were revoked.
Full text
__________________________________________________________________________________ Order in the matter of Remac Realty India Limited Page 2 of 10
__________________________________________________________________________________ Order in the matter of Remac Realty India Limited Page 3 of 10
__________________________________________________________________________________ Order in the matter of Remac Realty India Limited Page 4 of 10
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Source: SecMarx — sebi:WTM/GM/EFD/100/2017-18. 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.