sebi:WTM/SKM/EFD-DRA-1/06/2018-19
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Facts / Headnote
Directions issued: wind up CIS and refund contributions within three months; submit winding up and repayment report; no diversion of funds; provide asset inventory; restrained from securities market; directors restrained from holding director/KMP positions in listed companies for 4 years.
Provisions invoked
- s. 11A
- s. 11
- s. 11(1)
- s. 12
- s. 11(2)
- s. 30
- s. 45
- s. 58A
- s. 620A
Regulations
- Reg. 65
- Reg. 3
Parties
- Maitreya Plotters & Structures Pvt. Ltd.
- Mrs. Varsha Madhusudan Satpalkar
- Mr. Janardan Arvind Parulekar
Holding
The schemes/plans of MPSPL for purchase or booking of plots of land fulfil all the conditions of a collective investment scheme under Section 11AA(2) of the SEBI Act, and MPSPL and its directors contravened Section 12(1B) of the SEBI Act and Regulation 3 of the CIS Regulations by launching such schemes without obtaining registration from SEBI.
Full text
__________________________________________________________________________________ Order in the matter of Maitreya Plotters & Structures Pvt. Ltd.
__________________________________________________________________________________ Order in the matter of Maitreya Plotters & Structures Pvt. Ltd.
__________________________________________________________________________________ Order in the matter of Maitreya Plotters & Structures Pvt. Ltd.
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Source: SecMarx — sebi:WTM/SKM/EFD-DRA-1/06/2018-19. 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.