September 08, 2015
PR No. 227/2015
Order in the matter of Samruddha Jeevan Foods India Limited and its directors
Shri Prashant Saran, Whole Time Member, SEBI, has passed an order on September 02, 2015 in the matter of
Samruddha Jeevan Foods India 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 Office No. 1, 1st Floor, Sr. No. 63/2B/9, The Forum, Pune
Satara Road, Parvati, Pune- 411009. The order directed the company and its Directors, Mr. Mahesh Kisan Motewar,
Mrs. Vaishali Mahesh Motewar, Mr. Ghanshyam Jashbhai Patel and Mr. Rajendra Pandurang Bhandare 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 Samruddha Jeevan Foods India 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
September 08, 2015 |