sebi:WTM/SM/EFD/DRA3/26974/2023-24
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Directions issued: newspaper publication inviting investor claims, debarment of Noticees, and other directions under Sections 11(1), 11(4), 11B(1) read with Section 19 of the SEBI Act, 1992 and Regulation 65 of the CIS Regulations
Provisions invoked
- s. 11A
- s. 11
- s. 19
- s. 12
- s. 30
Regulations
- Reg. 65
- Reg. 3
Parties
- Capacious Farming Private Limited (Noticee no. 1)
- Gaurav Yadav (Noticee no. 2)
- Gurbaksh Singh (Noticee no. 3)
- Narmin Kaur Yadav (Noticee no. 4)
Holding
The schemes run by Capacious Farming Pvt. Limited were in the nature of collective investment schemes as defined under Section 11AA of the SEBI Act, 1992, and the Company carried on/caused to carry on such a CIS without obtaining the requisite registration from SEBI, in violation of Section 12(1B) of the SEBI Act, 1992 read with Regulation 3 of the CIS Regulations. Directions were issued including newspaper publication inviting investor claims and debarment of the Noticees.
Full text
Order in the matter of Capacious Farming Pvt. Limited Page 2 of 44 “8. For the reasons stated aforesaid, the impugned order cannot be sustained and is quashed. The appeal is allowed. The matter is remitted to the WTM to pass a fresh order after giving an opportunity of hearing without taking into consideration the earlier order passed by the WTM dated July 12, 2021. In this regard, the appellant shall appear on April 08, 2022 before the WTM. Misc. Applications are accordingly disposed of.”
Order in the matter of Capacious Farming Pvt. Limited Page 3 of 44 IV. The Company, in the Financial Year 2011-12 made an outward sale of 3,499 goats for a value of INR 2,40,79,541.
Order in the matter of Capacious Farming Pvt. Limited Page 4 of 44 of the SEBI (Collective Investment Schemes) Regulations, 1999 (hereinafter referred to as the “CIS Regulations”).
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:WTM/SM/EFD/DRA3/26974/2023-24. 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.