sebi:WTM/GM/EFD/78/2017-18
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Facts / Headnote
Held the Scheme was an unregistered collective investment scheme; directed Susk India Ltd. and 9 promoters/directors jointly and severally to wind up and refund with returns within three months and submit winding up and repayment report; restrained them from securities market till refund plus 4 years and from holding director/KMP posts in listed companies for 4 years; disposed proceedings against Noticee Nos. 11, 12 and 13 vacating interim restraints.
Provisions invoked
- s. 11A
- s. 12
- s. 30
Regulations
- Reg. 68
- Reg. 71
- Reg. 73
- Reg. 65
- Reg. 5
- Reg. 5(1)
- Reg. 68(1)
Parties
- Susk India Ltd.
- Kailash Singh Lodhi
- Narendra Singh Lodhi
- Bhagwati Bai Lodhi
- Sunil Tiwari
- Dinesh Saini
- Jeevan Kharadiya
- Jitendra Singh Bhati
- Man Singh Lodhi
- Amit Singh Rathore
- Abhay Narvariya
- Durgesh Wankhade
- Ravi Sankhla
Holding
Susk India Ltd.'s property allotment/money mobilisation scheme constituted a collective investment scheme under Section 11AA operated without registration in violation of Section 12(1B) and CIS Regulations, and the company with its 9 promoters/directors must wind up and refund investors, while Noticee Nos. 11-13 were exonerated.
Full text
__________________________________________________________________________________________ Order in the matter of Susk India Ltd.
__________________________________________________________________________________________ Order in the matter of Susk India Ltd.
__________________________________________________________________________________________ Order in the matter of Susk India Ltd.
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Source: SecMarx — sebi:WTM/GM/EFD/78/2017-18. 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.