May 05, 2017
PR No. 027/2017
Order in the matter of Vaibhav Parivar India Projects Limited
On representation dated November 7, 2016 in the matter of Vaibhav Parivar India Projects Limited with respect to order dated January 22, 2016, Shri G. Mahalingam, Whole Time Member, SEBI, has passed order dated April 28, 2017 against Vaibhav Pariwar India Projects Limited, Mr. Rajesh Kumar Rai and Mr. Manoj Kumar Rai , inter - alia directing:
- SEBI shall take necessary steps to initiate attachment and recovery proceedings against the Company and its directors for the purposes of making refunds to investors and may also initiate further proceedings in accordance with law.
- The representation dated November 7, 2016 filed by VPIPL, Mr. Rajesh Kumar Rai and Mr. Manoj Kumar Rai is accordingly disposed of without any extension of time for compliance with the directions contained in order dated January 22, 2016.
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