sebi:WTM/RKA/NRO/CIS/61/2014
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Facts / Headnote
Directions issued to wind up collective investment schemes, refund investors, and restrain from accessing capital market; prosecution and adjudication proceedings reserved
Provisions invoked
- s. 11B
- s. 11A
- s. 24
- s. 12
- s. 28A
Regulations
- Reg. 65
- Reg. 3
Parties
- Beetal Livestocks & Farm (Pvt.) Ltd.
- Mr. Nizzamuddin Sabbir
- Mr. Abdul Slam
- Mr. Manish Girdhari
- Mr. Bharat Kumar
- Mr. Sarif Khan
- Mr. Raju Jhunni
- Mr. Santosh Kumar
- Mr. Sanjeev Kumar Sharma
Holding
Beetal Livestocks & Farm (Pvt.) Ltd. and its directors were found to have carried on collective investment schemes without registration, in contravention of section 12(1B) of the SEBI Act and regulation 3 of the CIS Regulations, and were directed to wind up the schemes and refund investors within three months and restrained from accessing the capital market.
Full text
________________________________________________________________________________________ In the matter of Beetal Livestocks & Farm (Pvt.) Ltd. Page 2 of 7 Girdhari, Mr. Bharat Kumar, and Mr. Raju Jhunni were not delivered or the delivery status could not be ascertained, the SCNs were served by way of affixture on Beetal's registered office address and on its directors' last known addresses. A public notice was also issued in The Times of India (English), Hindustan (Hindi) and Navbharat Times (Hindi) on November 4, 2012. By the said public notice the entities were advised to collect the SCNs within 10 days of publication of the notice, failing which SEBI shall proceed on the basis of material available on records.
________________________________________________________________________________________ In the matter of Beetal Livestocks & Farm (Pvt.) Ltd. Page 3 of 7 hearing were granted to Beetal and its other directors on January 30, 2014, February 14, 2014 and March 03, 2014. The notices to that effect were sent on the registered office address of Beetal and the last known address of the directors. The notice was served upon Mr. Sanjeev Kumar Sharma and rest all the notices were returned undelivered. None of the noticees appeared for hearing on the scheduled dates. I note that sufficient opportunities have been granted to Beetal and its directors and they are not keen to avail the same.
________________________________________________________________________________________ In the matter of Beetal Livestocks & Farm (Pvt.) Ltd. Page 4 of 7 (60 months) months) Profits ₹ 6,000 ₹ 5,400 ₹ 6,000 ₹ 11,400 ₹ 5,400
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Source: SecMarx — sebi:WTM/RKA/NRO/CIS/61/2014. 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.