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November 07, 2001
PR No. 194/2001
Prosecution Department
Prosecution against entities operating unregistered
collective investment schemes
Securities and Exchange Board of India has launched criminal prosecution against the following companies at Mumbai for their violations of SEBI (Collective Investment Schemes) Regulations, 1999. The said companies raised several crores of rupees from the investors under various schemes and failed neither to register the said schemes with SEBI nor to wind up the schemes and refund the amounts to the investors, despite several directions of SEBI to do so. The directors of the said companies have also been prosecuted.
- Arrow Biotech International Ltd.,
- Green Gold Forestry Ltd.,
- Maharashtra Agritech Ltd.,
- Shrishrimal Plantation Ltd., and
- Wealth Agro Plantations India Ltd.
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