sebi:WTM/SR/CIS/WRO-ILO/29/02/2015
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Facts / Headnote
Interim directions issued restraining RBN Infrastructure India Ltd. and its promoters/directors from collecting further funds, launching new schemes, disposing of assets, and diverting funds; directed to furnish information and file reply within 21 days
Provisions invoked
- s. 11A
- s. 11(4)
- s. 12
- s. 11
Regulations
- Reg. 65
- Reg. 3
- Reg. 4(2)
- Reg. 4(2)(t)
Parties
- M/s RBN Infrastructure India Ltd.
- Mr. Ranveer Singh Baghel
- Mr. Ram Niwas Pal
- Mr. Ashok Kumar Pal
- Mr. Ram Rup Baghel
- Mr. Anil Kumar Baghel
- Mr. Ram Niwas Baghel
- Mr. Sarvesh Singh Baghel
Holding
RBN Infrastructure India Ltd. prima facie engaged in fund mobilization from the public through a 'collective investment scheme' as defined under Section 11AA of the SEBI Act without obtaining registration, in contravention of Section 12(1B) of the SEBI Act and Regulation 3 of the CIS Regulations. Interim directions were issued restraining the company and its directors from collecting further funds and disposing of assets pending final decision.
Full text
Page 2 of 15 iv. The Hon'ble High Court, also advised the authorities to consider the aforesaid Report filed by CBI in respect of the activities of the companies including RBN Infrastructure.
Page 3 of 15 It has revealed that the company was being managed by Shri. Mahinder Singh Pal, Shri RR Pal, Shri. Kamlesh Pal and Shri.Laxmi Narain Dixit. The first three could not be traced during the course of enquiry and were reported to have left Gwalior. The directors of the company have not refunded any amounts to the customers and have misappropriated the entire deposits".
Page 4 of 15 vii. Details of all the schemes/ offers which were made available to the public, viii. Details of the scheme- wise amount mobilized by RBN Infrastructure till date along with the number of investors under the schemes; ix. Name & addresses of the all investors who invested their money with the company. x. List of the all branches with their address. xi. Certified copy of audited financial statement for the FY 2010-11, 2011-12 and 2012-13 and copy of detailed trial balance from April 2013 till date. xii. Copy of Income Tax Return filed by the company for financial year 2010-11 till date. xiii. Details of any other similar scheme(s), if any, floated by the company or the group/associates company or companies in which the directors are also directors.
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Source: SecMarx — sebi:WTM/SR/CIS/WRO-ILO/29/02/2015. 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.