Collective Investment Schemes Division

M/s. La Mark Farms Ltd., Mumbai (LMFL) was granted provisional registration by SEBI under the SEBI (Collective Investment Schemes) Regulations, 1999 (hereinafter referred to as the Regulations) subject to, interalia, compliance of certain requirements of the Regulations. While granting provisional registration to LMFL, it was made clear to it by SEBI that granting of provisional registration to it did not authorize LMFL to raise money from the public under its schemes. LMFL failed to comply with the requirements of the Regulations and its provisional registration expired on February 28, 2003. In view of this, SEBI vide its letter dated April 4, 2003 has intimated LMFL that as an existing Collective Investment Scheme, it is now required to wind up its existing scheme(s) and make repayments to the investors in accordance with the Regulations and report compliance to SEBI.

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