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November 02, 2015
PR No. 256/2015
Order in the matter of Raghav Capital and Infrastructure Limited
Shri Prashant Saran, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an order
dated October 19, 2015 issuing the following directions in the matter of Raghav Capital and Infrastructure Limited.
The company namely, Raghav Capital and Infrastructure Limited and its directors including Mr. Raj Kumar Raghav,
Ms. Nirmala Raghav and Ms. Ritu Verma:
- Shall 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 Scheme in this Order.
- Shall 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 in accordance with the SEBI (Collective Investment Schemes) Regulations, 1999, including
the trail of funds claimed to be refunded, bank account statements indicating refund to the investors and receipt from the
investors acknowledging such refunds.
- Shall not alienate or dispose- off or sell any of the assets of Raghav Capital and Infrastructure Limited except
for the purpose of making refunds to its investors as directed above.
- Directed to provide a full inventory of all their assets and properties and details of all their bank accounts, demat
accounts and holdings of shares/securities, if held in physical form.
- Are restrained from accessing the securities market and are prohibited from buying, selling or otherwise dealing
in securities market and launching any scheme for mobilization of funds in any manner for a period of four (4)
years.
Raghav Capital and Infrastructure Limited was running a scheme/arrangement of selling plots of developed land
through instalments and mobilizing funds from investors/public under its schemes without being
registered with SEBI and as a result the aforesaid activity has violated the provisions of SEBI Act,1992 and SEBI ( Collective
Investment Schemes) Regulations, 1999.
Mumbai
November 02, 2015
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