PRESS RELEASE - SEBI

November 10, 2015
PR No. 267/2015

Order in the matter of M/s Blue Chip Corporation Pvt. Ltd, M/s Milestone Investment, M/s Nitin Narke
Investment, M/s Blue Cheap Investment, M/s Blue Chip Investment, Mr. Nitin Rajaram Narke, Mr.
Pravin B. Darawade and Ms. Bhavana Chadha

Shri Rajeev Kumar Agarwal, Whole Time Member, Securities and Exchange Board of India (SEBI), passed an exparte ad interim order dated November 09, 2015 in the matter of Blue Chip Corporation Pvt. Ltd. directing the following:

  1. The financial assets of Blue Chip Corporation Pvt. Ltd., Mr. Nitin Rajaram Narke, Mr. Pravin B. Darawade, Ms.Bhavana Chadha, M/s Milestone Investment, M/s Nitin Narke Investment, M/s Blue Cheap Investment and M/s Blue Chip Investment are hereby impounded till further directions. They are further directed not to dispose off or alienate any of their assets, whether movable or immovable, or any interest or investment or charge in any of such assets except for the purpose provided herein.
     
  2. The banks and depositories are directed that no debits shall be made in their bank accounts/demat accounts, held jointly or severally, except after confirmation from the concerned stock exchange in this regard.
     
  3. The concerned stock exchanges, depositories and the banks are directed to ensure that all the above directions are strictly enforced.
     
  4. The aforesaid entities are directed to provide the complete details of amounts collected from investors and amount due to each of them.
     
  5. The aforesaid entities are directed to provide a full inventory of all their assets whether movable or immovable, or any interest or investment or charge in any of such assets, including details of their all their bank and demat accounts immediately but not later than 7 working days from the date of receipt of these directions.
     
  6. The aforesaid entities are restrained from accessing the securities market and are further prohibited from buying, selling or otherwise dealing in securities, either directly or indirectly, or being associated with the securities market in any manner whatsoever, with immediate effect, till further directions.
     
  7. The aforesaid entities shall cease and desist from undertaking any activity in the securities market, directly or indirectly, in any manner whatsoever till further directions.
     
  8. Blue Chip Corporation Pvt. Ltd., Mr. Nitin Rajaram Narke, Mr. Pravin B. Darawade, Ms. Bhavana Chadha M/s Milestone Investment, M/s Nitin Narke Investment, M/s Blue Cheap Investment and M/s Blue Chip Investment are prohibited from mobilizing funds in any manner or pooling funds from public and from offering any unregistered service, in whatever form.
     
  9. Mr. Nitin Rajaram Narke, Mr. Pravin B. Darawade, Ms. Bhavana Chadha, Blue Chip Corporation Pvt. Ltd., M/s Milestone Investment, M/s Nitin Narke Investment, M/s Blue Cheap Investment and M/s Blue Chip Investment are directed to immediately withdraw and remove all advertisements, representations, literatures, brochures, materials, publications, documents, websites, etc. and any unregistered activity in the securities market.
     
  10. Blue Chip Corporation Pvt. Ltd., Mr. Nitin Rajaram Narke, Mr. Pravin B. Darawade, Ms. Bhavana Chadha, M/s Milestone Investment, M/s Nitin Narke Investment, M/s Blue Cheap Investment and M/s Bluechip Investment are prohibited from transferring the funds/deposits from their bank account, which were mobilised from the clients or other investors or from disposing of or alienating any asset that has been created from the funds/deposits received from their clients or other investors for purposes other than refund as directed hereinabove.

Mumbai
 
November 10, 2015

 

For full copy of order against BHAVANA CHADHA, click here.

For full copy of order against BHAVANA CHADHA, click here.

For full copy of order against BLUE CHEAP INVESTMENT, click here.

For full copy of order against BLUE CHIP CORP.PVT.LTD., click here.

For full copy of order against BLUE CHIP INVESTMENT, click here.

For full copy of order against MILESTONE INVESTMENT, click here.

For full copy of order against NITIN NARKE INVESTMENT, click here.

For full copy of order against NITIN RAJARAM NARKE, click here.

For full copy of order against NITIN RAJARAM NARKE, click here.

For full copy of order against PRAVIN B.DARAWADE, click here.

For full copy of order against PRAVIN B.DARAWADE, click here.