SEBI Vs. Seth Dhan Raj Agro India Ltd. – Prosecution filed by SEBI -Conviction order passed by court

SEBI had filed prosecution under the SEBI Act, 1992 against M/s Seth Dhan Raj Agro India Ltd.,New Delhi, which was operating Collective Investment Schemes and its directors for its failure to wind up its schemes and repay investors as per the SEBI (Collective Investment Schemes) Regulations, 1999 and SEBI directions.
 
On the basis of that, the Addl. Chief Metropolitan Magistrate, Delhi passed the order dated 01.04.2004 convicting M/s Seth Dhan Raj Agro India Ltd and the accused persons who were held guilty for offence punishable under section 24 r/w section 27 of the SEBI Act. The court has sentenced to pay a fine of Rs.5000/- each against the accused. In default of payment of fine, they shall undergo simple imprisonment for three months.