sebi:WTM/GM/EFD/47/2018-19
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Facts / Headnote
Directions issued: prohibition on collecting contributions/launching CIS, winding up and refund of investor contributions within three months, restraint on alienating assets, market access ban till refund completion plus four years, and ban on holding director/KMP positions in listed companies for four years.
Provisions invoked
- s. 11A
- s. 12
Regulations
- Reg. 65
- Reg. 3
- Reg. 5
Parties
- Touchwood Ltd.
- Virender Kumar Mittal
- Sangeeta Mittal
- Pawan Kumar Mittal
Holding
The teak tree investment scheme floated by Touchwood Ltd. was declared a Collective Investment Scheme, and TWL and its directors were held to have violated Section 12(1B) read with Section 11AA of the SEBI Act and regulations 3, 5, 68 and 69 of the CIS Regulations by not obtaining registration. Directions were issued for winding up the schemes, refunding investors, and restraining the noticees from the securities market and from holding director/KMP positions.
Full text
__________________________________________________________________________________ Order in the matter of Touchwood Ltd.
__________________________________________________________________________________ Order in the matter of Touchwood Ltd.
__________________________________________________________________________________ Order in the matter of Touchwood Ltd.
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Source: SecMarx — sebi:WTM/GM/EFD/47/2018-19. 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.