March 27, 2015
PR No. 088/2015

Order in the matter of Networth Marketing Limited and its directors

Shri S Raman, Whole Time Member, SEBI, has passed an order on March 19, 2015 under Sections 11 (1), 11 (4) and 11B of the Securities and Exchange Board of India Act, 1992 read with Regulation 65 of Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999 in the matter of Networth Marketing Limited (hereafter referred as NML) and its directors. The order directed the company, and its directors viz., Mr. Anis Mohamad Kazi, Bhaskar Bhao Vasage, Mahendra Mahadeo Bhuvad, Mr. Nuruddin Shaikh, Mr. Bhalerao Yashwant Misal and Mr. Partha Ghosh inter-alia not to collect any fresh money from investors under its existing scheme and not to launch any new schemes or plans or float any new companies to raise fresh moneys. They are also directed to immediately submit the full inventory of the assets owned by NML obtained through money raised by NML. The Company and its directors have further been directed not to dispose of or alienate any of the properties/assets obtained directly or indirectly through money raised by NML and not to divert any funds raised from public at large, kept in bank account(s) and/or in the custody of NML. Further, NML and its directors are directed to furnish al! the information/ details sought by SEBI within 15 days from the date of receipt of this order.
 
NML was mobilizing funds from investors / public under its schemes for sale and purchase of real estate (Plot in sq. meters) without being .registered with SEBI and as a result of the aforesaid activity, has violated provisions of the SEBI Act and SEBI (Collective Investment Schemes) Regulations, 1999.

Mumbai
 
March 27, 2015

For full copy of order against ANEES MOHAMED RAHIM KAZI, click here.

For full copy of order against BHALERAO YASHWANT MISAL, click here.

For full copy of order against BHASKAR BHAO VASAGE, click here.

For full copy of order against MAHENDRA MAHADEO BHUVAD, click here.

For full copy of order against NETWORTH MARKETING LTD., click here.

For full copy of order against NURUDDIN SHAIKH, click here.

For full copy of order against PARTHA GHOSH, click here.