September 21, 2015
PR No. 234/2015
Order in the matter of Agri Gold Farm Estates India Private Limited and its Directors
Shri Prashant Saran, Whole Time Member, SEBI, has passed an order on September 14, 2015 in the matter of Agri
Gold Farm Estates India Private Limited and its Directors under section 19 of Securities and Exchange Board of
India Act, 1992 and Sections 11(1), 11B and 11(4) thereof and Regulation 65 of the SEBI (Collective Investment
Schemes) Regulations, 1999.
The Order inter alia directed Agri Gold Farm Estates India Private Limited and its Directors, viz., Mr. Venkata Rama
Rao Avva, Mr. Avva Venkata Seshu Narayana Rao, Mr. Avva Hema Sundara Vara Prasad, Mr. Savadam Srinivas,
Mr. Moganti Bhanuji Rao and Mr. Emmadi Sada Siva Vara Prasad Rao,
- to abstain from collecting 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 Schemes in this Order;
- to wind up the existing Collective Investment Schemes and refund the money collected by the said company
under the schemes with returns which are due to its investors as per the terms of offer 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, including the trail of funds claimed to be refunded, bank accounts statements indicating
refund to the investors and receipts from the investors acknowledging such refunds.
- not to alienate or dispose off or sell any of the assets of the Company except for the purpose of making refunds
to its investors as directed above;
- to provide a full inventory of the assets and properties owned by the company and details of all their bank
accounts, demat accounts and holdings of shares/securities, if held in physical form;
- 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.
Agri Gold Farm Estates India Private Limited, having its registered office located at: Agri Gold Towers, H.No. 6-3-680/A/B, Thakur Mansion Lane, Near Somajiguda Circle, Hyderabad- 500082, was found engaged in mobilizing
funds from the investors under its schemes, prima- facie violating the provisions of the SEBI Act and SEBI
(Collective Investment Scheme) Regulations, 1999. This Order shall come into force with immediate effect.
Mumbai
September 21, 2015 |
For full copy of order against
AGRI GOLD FARM ESTATES INDIA PRIVATE LIMITED, MR. VENKATA RAMA RAO AVVAS, MR. AVVA VENKATA SESHU NARAYANA RAO, MR. AVVA HEMA SUNDARA VARA PRASAD, MR. SAVADAM SRINIVAS, MR. MOGANTI BHANUJI RAO AND MR. EMMADI SADA SIVA VARA PRASAD RAO
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