PRESS RELEASE - SEBI

March 15, 2013
PR No. 029/2013


Order in the matter of M/s. Nicer Green Forest Ltd. and its directors

Shri Rajeev Kumar Agarwal, Whole Time Member (WTM) , SEBI has passed an order on March 12, 2013, in the matter of M/s. Nicer Green Forest Ltd. (NGFL) and its directors, Mr. Pipal Singh, Mr. Gajjan Singh, Mr. Gurnaib
Singh, Mr. Manjit Singh, Mr. Ranjit Singh, Ms. Surinder Kaur and Mr. Ramesh Ravi with the following directions:

a) Restraining and debarring NGFL and its above mentioned directors from accessing the securities market and further prohibiting them from buying, selling or dealing in securities, directly or indirectly, in any manner whatsoever till the schemes of the NGFL are wound up and all monies mobilized by it through its collective investment schemes are refunded to the satisfaction of SEBI.
 
b) Prohibiting the above entities/ persons from mobilizing funds under any schemes or arrangement, existing or future, as defined under section 11AA of the SEBI Act.

Earlier, vide order dated November 9, 2010 the then Whole Time Member, had directed M/s. Nicer Green Forest Ltd. to wind up its existing collective investment scheme(s) and refund the money collected by it under the
scheme(s) with returns which were due to the investors as per the terms of offer within a period of one month from the date of the order.
 
In view of the failure of company to comply with the directions of that order, Shri Rajeev Kumar Agarwal, WTM, SEBI has, vide the present order, issued the aforesaid directions which are without prejudice to the right of SEBI to
take other actions as contemplated in the order dated November 9, 2010 and to initiate adjudication proceedings against the entities/ persons for non compliance of order dated November 9, 2010.
 
  
Mumbai
 
March 15, 2013


For full copy of order against GAJJAN SINGH, click here.

For full copy of order against GURNAIB SINGH, click here.

For full copy of order against MANJIT SINGH, click here.

For full copy of order against NICER GREEN FORESTS LTD., click here.

For full copy of order against PIPAL SINGH SIDHU, click here.

For full copy of order against RAMESH RAVI, click here.

For full copy of order against RANJIT SINGH, click here.

For full copy of order against SURINDER KAUR, click here.