M/s. BVR Plantations Pvt. Ltd.

M/s. BVR Plantations Pvt. Ltd., New Delhi neither applied for registration nor took steps for winding up of the scheme(s) to repay the investors in the manner provided under SEBI (Collective Investment Schemes) Regulations, 1999. 

In view of the above, in his Order passed on August 26, 2002, Chairman, SEBI directed M/s. BVR Plantations Pvt. Ltd., New Delhi not to collect any money from investors, not to launch any new scheme(s) and to refund the money collected under the scheme(s) with returns which is due to the investors as per the terms of the offer within a period of one month from the date of the Order failing which the following actions would follow:

1. Initiation of prosecution under section 24 of SEBI Act,1992.
2. The entity and its concerned officials would be debarred from operating in the capital market and from accessing the capital market for a period of 5 years.
3. Reference would be made to the state governments/local police to register civil/criminal cases against the entity/its concerned officials for the offences of fraud, cheating, criminal breach of trust and dishonest misappropriation of public funds.
4. Reference would be made to the Department of Company Affairs to initiate the process of winding up of the entity.

For full copy of order against BVR PLANTATIONS PVT.LTD., click here.