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October 15, 2001
PR No. 177/2001
Prosecution against entities operating unregistered
collective investment schemes
Securities and Exchange Board of India has launched criminal prosecution against the following companies at New Delhi for their violations of SEBI (Collective Investment Schemes) Regulations, 1999. The said companies raised several crores of rupees from the investors under various schemes and failed neither to register the said schemes with SEBI nor to wind up the schemes and refund the amounts to the investors, despite several directions of SEBI to do so. The directors of the said companies are also prosecuted.
| S. No. |
Name of the
Company |
| 1. |
Aaraya Plantations &
Farm Developers Ltd., |
| 2. |
Agriotek India Ltd., |
| 3. |
Agrogold Plantations &
Resorts Ltd., |
| 4. |
Crystal Biotech Industries
Ltd. |
| 5. |
Vasundhara Marin Products
Ltd., |
| 6. |
Young Farmers Forests Ltd., |
| 7. |
Grow Green Forest (India)
Ltd., |
| 8. |
Surbhi Forests India Ltd., |
| 9. |
Endowment Plantations India
Ltd. |
| 10. |
Okara Agro Industries Ltd., |
| 11. |
Advantage Agro India Ltd., |
| 12. |
Okara Leasing &
Investment Ltd. |
| 13. |
Timberworld Resorts&
Plantations India Ltd., |
| 14. |
Swarnabhumi Forest (India)
Ltd. |
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