sebi:WTM/SR/CIS-NRO/21/06/2014
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Facts / Headnote
Interim directions issued restraining JSR Dairies and its Directors from collecting further money, launching new schemes, disposing of assets, or diverting funds, pending further proceedings.
Provisions invoked
- s. 11A
- s. 12
Regulations
- Reg. 3
- Reg. 4(2)(t)
Parties
- JSR Dairies
- Mr. Rajesh Khera
- Mr. Rajesh Niranjan
- Mr. Lalit Kumar Arora
- Mr. Praveen Kumar
Holding
JSR Dairies' fund mobilization scheme prima facie constitutes a 'collective investment scheme' under Section 11AA of the SEBI Act carried on without registration as required under Section 12(1B) of the SEBI Act and Regulation 3 of the CIS Regulations. Interim directions were issued restraining JSR Dairies and its Directors from further fund mobilization activity.
Full text
Page 2 of 12 3. Vide letter dated January 13, 2011, JSR Dairies sought an extension of one month from SEBI for submission of the abovementioned information. SEBI vide letter dated January 20, 2011, advised JSR Dairies to submit the aforementioned information on or before January 28, 2011.
Page 3 of 12 was submitted even after a period of twenty days, SEBI vide letter dated April 13, 2011, advised JSR Dairies to submit the aforementioned information on or before May 2, 2011.
Page 4 of 12 iii. As per the 'Proposal Form', JSR Dairies has invited investment from the public towards the purchase and allotment of calf/ghee under various subscription plans in the form of installments or lump–sum payment (hereinafter referred to as "JSR Scheme"). One of each of the aforementioned monthly installments and lump-sum 'Payment Plans' (as contained in the Rule Book) is illustrated below:
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Source: SecMarx — sebi:WTM/SR/CIS-NRO/21/06/2014. 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.