October 03, 2008
PR No. 203/2008

Order against M/s. Save Earth Herbs Ltd.

Dr. T.C Nair, Whole Time Member, SEBI has passed an order dated September 22, 2008 against M/s. Save Earth Herbs Ltd. (SEHL). SEHL was operating Collective Investment Schemes (CIS) without obtaining registration with SEBI and thus failed to comply with requirements of the SEBI Act, 1992 and the SEBI (CIS) Regulations. SEHL has also failed to refund money or assets to investors along with the requisite interest as required under Regulation 65 of CIS Regulations.

M/s. Save Earth Herbs Ltd. and their Directors have been directed to refrain from collecting any money from investors under its existing schemes with immediate effect; refrain from launching any new collective investment scheme(s); refund the money collected under its existing collective investment scheme(s) with returns which are due to the investors as per the terms of the offer and along with requisite interest (which should not be less than the bank interest) for delay, if any, within a period of one month from the date of the order failing which the following further actions would follow including:

1. Initiation of prosecution proceedings under Section 24 read with Section 27 of the SEBI Act, 1992 against SEHL / its promoters/ directors/managers/ persons-in-charge of the business of its scheme(s) also, whose names are mentioned in the schedule annexed to the order for failure to obey the above directions.
    

2. Debarring SEHL/ its promoters/ directors/ managers/ persons-in-charge of the business of its scheme(s), whose names are mentioned in the schedule annexed to the order from operating in accessing the capital market for a period of 5 years.
    

3. Reference to the state government/local police to register civil/criminal cases against SEHL/ its promoters /directors/managers/ persons-in-charge of the business of its scheme(s), whose names are mentioned in the schedule annexed to the order , for apparent offences of fraud, cheating, criminal breach of trust and misappropriation of public funds.
    

4. Reference to the Ministry of Corporate Affairs for initiating winding up proceedings against SEHL.
    

Mumbai

October 06, 2008

For full copy of order against AKHILESHWAR KUMAR SINHA, click here.

For full copy of order against DIPAK KUMAR BASU MALLIK, click here.

For full copy of order against K.SAI RAM, click here.

For full copy of order against RAJIV DUTTA, click here.

For full copy of order against SAIBAL PAL, click here.

For full copy of order against SANJAY KUMAR MISHRA, click here.

For full copy of order against SANKAR MONDAL, click here.

For full copy of order against SANTOSH KUMAR SRIVASTAVA, click here.

For full copy of order against SAVE EARTH HERBS LTD., click here.