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.

June 23, 2014