sebi:WTM/GM/EFD/120/2017-18

SEBI · SEBI · 2014-08-26 · G. Mahalingam, Whole Time Member

This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.

Facts / Headnote

Company and its present and past directors held liable for unregistered CIS and jointly and severally directed to wind up schemes and refund with returns within three months, submit winding up and repayment report, not alienate assets, restrained from securities market till compliance plus four years, and directors barred from listed company directorships for 4 years.

Provisions invoked

• s. 11A
• s. 11
• s. 19
• s. 12
• s. 260

Regulations

• Reg. 65
• Reg. 3
• Reg. 4(2)(t)

Parties

• Bhoomi Devcon & Agritech Limited
• Lal Chand Vishvakarma
• Radha Bai Vishwakarma
• Ghasi Ram Vishwakarma
• Sanjay Kumar Agrawal

Holding

Bhoomi Devcon's Advance property Booking plan was held to be a Collective Investment Scheme operated without SEBI registration in violation of section 12(1B) and CIS and PFUTP Regulations. The company and its present and past directors were held jointly and severally liable to wind up the schemes, refund investors with returns within three months, and were restrained from the securities market and asset alienation.

Full text

__________________________________________________________________________________ Order in the matter of Bhoomi Devcon & Agritech Limited Page 2 of 8

__________________________________________________________________________________ Order in the matter of Bhoomi Devcon & Agritech Limited Page 3 of 8

__________________________________________________________________________________ Order in the matter of Bhoomi Devcon & Agritech Limited Page 4 of 8

Source: SecMarx — sebi:WTM/GM/EFD/120/2017-18. 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.