June
23, 2014
PR No. 064/2014
Order in the matter of M/s. Nikhara Bharath Construction Company Ltd
Shri S. Raman, Whole Time Member, SEBI has passed an interim order dated June 12, 2014 inter-alia directing that
Nikhara Bharath Construction Company Ltd and its Directors viz. Mr. Kodandarama Pilliah, Mrs. Bharathi
Balakrishna Murthy and Mrs. Sreedevi Balakrishnamurthy shall
| a) |
not to collect any money from investors from its existing "scheme" or to launch any new "scheme"; |
| b) |
immediately submit the full inventory of the assets owned by Nikhara out of the amounts collected from the
"customers"/investors under its existing "scheme"; |
| c) |
not to dispose of any of the properties or alienate the assets of the existing "scheme"; |
| d) |
not to divert any funds raised from public at large, kept in bank account(s) and/or in the custody of the company; |
| e) |
to furnish all the information/details sought by SEBI within 15 days from the date of receipt of the cited order,
including, |
|
i) |
Details of amount mobilized and refunded till date, |
|
ii) |
Scheme wise list of investors and their contact numbers and addresses and, |
|
iii) |
PAN Nos. of the aforementioned Directors. |
The company had launched collective investment schemes without obtaining certificate of registration from
SEBI.
Mumbai
June 23, 2014
|