CIS entities who have to compulsorily wind up their schemes and make payment to the investors latest by May 28, 2000.
 
Collective Investment Schemes Division

On notification of the SEBI (Collective Investment Schemes) Regulations, 1999, on October 15, 1999, all existing Collective Investment Schemes, subject to the provisions of Chapter IX of these Regulations, were required to make an application to SEBI for grant of certificate of registration. 

Under the provisions of the Regulations, an existing Collective Investment Scheme which has failed to make an application or is not desirous of obtaining registration has to compulsorily wind up the scheme(s) and make payment to the investors. 

Upto March 31, 2000, SEBI has received applications for grant of certificate of registration from 35 existing entities. Besides, 2 entities who had earlier not filed information with SEBI have applied for registration. Therefore, the remaining existing entities, who had earlier filed information with SEBI, have to compulsorily wind up their schemes and make payment to the investors latest by May 28, 2000 failing which they shall face legal and administrative action. The names of 605 entities who have to compulsorily wind up their schemes and make payment to the investors latest by May 28, 2000 are available on SEBI website viz. www.sebi.gov.in. Names of such entities are also being published in newspapers separately.