August 28, 2015
PR No. 224/2015
Order in the matter of M/s Ally Multi-Trade India Private Limited and its Directors
Shri Prashant Saran, Whole Time Member, SEBI, has passed an order on August 26, 2015 in the matter of Ally
Multi-Trade India Private Limited against the company and its directors under Sections 11(1), 11(4) and 11B of the
Securities and Exchange Board of India Act, 1992 read with Regulation 65 of the Securities and Exchange Board of
India (Collective Investment Schemes) Regulations, 1999, and, Regulation 4(2) (t) of Securities And Exchange
Board Of India (Prohibition Of Fraudulent And Unfair Trade Practices Relating To Securities Market) Regulations,
2003.
The Registered Office of the Company is situated at 201, Matoshree Building, Near Saraswat Bank, Parsi Agyari
Lane, Jambhali Naka, Thane (W). The order directed the company and its Directors, Mr. Chetan Yashwant Thakur,
Mr. Vijay Dattaram Chavan and Dr. Suryakant Sambu Bhosle to abstain from collecting any money from the
investors or from launching or carrying out any Collective Investment Schemes including the scheme which have
been identified as a Collective Investment Scheme in the order; to wind up the existing Collective Investment
Schemes and refund the money collected by the said company under the schemes with returns which are due to its
investors as per the terms of offer within a period of three months from the date of the Order; not to dispose of or
alienate any of the assets of Ally Multi-Trade India Private Limited except for the purpose of making refunds to its
investors; to provide a full inventory of all their assets and properties and details of all their bank accounts, demat
accounts and holdings of shares/securities, if held in physical form. The said order restrained the directors from
accessing the securities market and prohibited them from buying, selling or otherwise dealing in securities market
for a period of four (4) years.
The Company was engaged in fund mobilizing activity from public by floating/sponsoring/ launching Collective
Investment Scheme (CIS) as defined in section 11AA of the SEBI Act, 1992.
Mumbai
August 28, 2015 |