December 10, 2014
PR No. 162/2014

Order in the matter of M/s KIM Infrastructure & Developers Limited and its Directors

Shri Prashant Saran, Whole Time Member, SEBI, has passed an order on December 08, 2014 in the matter of M/s KIM Infrastructure & Developers Limited and its Directors. The order directed the company and its Directors viz., Mr.Ravinder Singh Sidhu, Mr.Rajesh Kumar, Mr. Sukhpal Singh Barar and Mr. Sanjib Sikdar; not to collect any money from the investors or launch or carry out any Collective Investment Schemes including the schemes which have been identified as a Collective Investment Scheme in this Order; to wind up the existing Collective Investment Schemes and refund the monies collected by the said company under the schemes with returns within a period of three months from the date of this Order and thereafter, within a period of fifteen days, submit a winding up and repayment report to SEBI; not to alienate or dispose off or sell any of the assets of KIM Infrastructure & Developers Limited except for the purpose of making refunds to its investors as directed above; to immediately submit the full inventory of the assets and properties owned by KIM Infrastructure & Developers Limited; not to access the securities market and are prohibited from buying, selling or otherwise dealing in securities market for a period of four (4) years.
 
Further, former Directors of the Company, Mr.Palwinder Singh, Mr.Rana Raminder and Mr.Satnam Singh are restrained from accessing the securities market and would further be prohibited from buying, selling or otherwise dealing in securities market for a period of two (2) years.
 
The Company was engaged in fund mobilizing activity from public by floating/sponsoring/ launching Collective Investment Scheme (CIS) as defined in section 11AA of the SEBI Act, 1992.

 
Mumbai
 
December 10, 2014

For full copy of order against KIM INFRASTRUCTURE & DEVELOPER LTD., MR.RAVINDER SINGH SINDHU, MR.RAJESH KUMAR, MR.SUKHPAL BARAR, MR.SANJIB SIKDAR, MR.PALWINDER SINGH, MR.RANA RAMINDER and MR.SATNAM SINGH click here.