January 27, 2014
PR No. 008/2014

Order in the matter of M/s.Shree Sai Spaces and Creations Ltd. and its directors

Shri S.Raman, Whole Time Member, SEBI passed an order on Jan 23, 2014 in the matter of M/s. Shree Sai Spaces and Creations Ltd. directing the company and its directors, Mr. Suresh L Srivastav, Ms. Laxmi S Shrivastav, Mr.
Ritesh K Shrivastav, Mr. Vivek Kumar Suresh Srivastav and Mr. Rajkumar Laxman Konde not to collect any money from investors from its existing project/scheme, not to launch any new project /scheme, not to dispose of or alienate any of the properties or assets owned or acquired in respect of or in pursuance of the schemes and not to divert any funds raised from public at large which are kept in bank account(s) and/or in the custody of the company.
 
M/s. Shree Sai Spaces and Creations Ltd. was prima facie found to be engaged in fund mobilising activity from public by floating ‘collective investment schemes’ as defined in Section 11AA of the SEBI Act.
 
The company had launched various collective investment schemes without obtaining certificate of registration from SEBI, thus contravening the provisions of Section 12 (1B) of the SEBI Act and Regulation 3 of the SEBI (Collective Investment Schemes) Regulations, 1999.
 

Mumbai
 
January 27, 2014

For full copy of order against LAXMI SURESH LAL SHRIVASTAV, click here.

For full copy of order against RAJKUMAR LAXMAN KONDE, click here.

For full copy of order against RITESH KUMAR SHRIVASTAV, click here.

For full copy of order against SHREE SAI SPACES CREATIONS LTD., click here.

For full copy of order against SURESH LAL SHRIVASTAV, click here.

For full copy of order against VIVEKKUMAR SURESH SRIVASTAV, click here.