Securities Exchange Board of India (SEBI) cautions investors not to invest in ‘Collective Investment Schemes‘ offered by the entities that are barred by it. It has issued a press release on 29th July, 2015 and provided the list of such barred business entities or companies.
These companies are not registered with SEBI and have been collecting funds / mobilizing money without filing the ‘offer documents’ with SEBI. As per SEBI, appropriate actions have been taken against these companies and its Directors.
As part of interim directions, SEBI inter-alia directs the entities and its Directors to stop collecting further money under existing / new schemes, not to launch any new scheme or float any new companies/firm to raise fresh money, not to divert or alienate any assets or money collected. As part of final directions, SEBI directs winding up of unregistered schemes of the entities, repayments to investors and inter-alia also debars the entity and its Directors from accessing the Capital markets.
What are Collective Investment Schemes (CIS)?
A Collective Investment Scheme (CIS), as its name suggests, is an investment scheme wherein several individuals come together to pool their money for investing in a particular asset(s) and for sharing the returns arising from that investment as per the agreement reached between them prior to pooling in the money.
Investors and general public have been cautioned not to invest in ‘Collective Investment Schemes‘ offered by the barred entities.
Further, investors are advised to bear the following cautionary checks before investing in a collective investment scheme:
- Whether the entity is registered with SEBI
- Whether the scheme (CIS) has filed an offer document with SEBI
- Subscription to CIS units is permitted only though a banking channel, no cash transactions are permitted
- No guaranteed or assured returns are permitted (at most, an indicative return may be stated in offer document)
A list of the Companies against whom orders have been passed by SEBI since 2011 till June 2015 is given below;
(If any of the following unregistered entity/ies are found to be collecting / mobilizing money, investors are advised not to subscribe to such collective investment schemes / deposit schemes and to report the same to SEBI and State authorities including Police authorities immediately, along with appropriate details / documents.)
|S.No.||Case Name||Date of SEBI Order|
|1||Sun-plant Agro Ltd||03/05/2011|
|2||NGHI Developers India Limited||06/11/2012|
|3||MPS Greenery Developers Limited||06/12/2012|
|4||Nicer Green Forest Ltd||12/03/2013|
|5||Maitreya Services Pvt. Ltd||25/03/2013|
|6||Osian’s Connoissurers of Art Ltd||15/04/2013|
|7||Saradha Realty India Ltd||23/04/2013|
|8||Alchemist Infra Realty Ltd||21/06/2013|
|9||Sumangal Industries Ltd||09/07/2013|
|10||Rose Valley Hotels & Entertainment Ltd||10/07/2013|
|11||HBN Dairies & Allied Ltd||12/07/2013|
|12||Maitreya Plotters & Structures Pvt. Ltd||30/08/2013|
|13||Samruddha Jeevan Foods India Ltd||31/10/2013|
|14||Servehit Housing & Infrastructure India Ltd.||31/10/2013|
|15||Orient Resorts (India) Pvt. Ltd||26/11/2013|
|16||Green Ray International Limited||03/02/2014|
|17||Royal Twinkle Star Club Ltd.||07/03/2014|
|18||Peers Allied Corportaion Ltd||23/04/2014|
|19||Green Buds Agro Farm I Ltd||16/05/2014|
|20||M/s. KBCL India Ltd||26/05/2014|
|21||Adel Landmarks Ltd (Era Landmarks Ltd)||05/06/2014|
|22||JSR Dairies Ltd||05/06/2014|
|23||Nikhara Bharath Construction Company Ltd.||12/06/2014|
|24||Haldhar Realty and Enterprises Ltd||17/06/2014|
|25||Rose Valley Real Estate & Constructions Ltd.||18/06/2014|
|26||Beetal Livestocks & Farms (Pvt) Ltd||25/06/2014|
|27||Ramel Industries Ltd||11/07/2014|
|28||Remac Realty India Ltd||15/07/2014|
|29||Sunshine Agro Global Ltd (Sunshine Forestry Pvt. Ltd)||15/07/2014|
|30||Ally Multi-Trade India Pvt. Ltd.||22/07/2014|
|31||Sai Prasad Corporation Ltd.||22/07/2014|
|32||Nicer Green Housing and Infrastructure Developers Limited||28/07/2014|
|33||Dhanolty Developers Ltd||30/07/2014|
|34||JSV Developers India Ltd.||31/07/2014|
|35||HNC Infrastructures and Shares India Ltd||05/08/2014|
|36||Shubham Kroti Foods Pvt. Ltd||08/08/2014|
|37||IHI Developers India Ltd||11/08/2014|
|39||Step Up Marketing Pvt. Ltd.||22/08/2014|
|40||SPNJ Land Projects and Developers India Ltd||17/09/2014|
|41||G N Dairies Limited||31/10/2014|
|42||Sheen Agro and Plantation Ltd||14/11/2014|
|43||Garima Real Estate and Allied Ltd.||24/11/2014|
|44||Raghav Capital & Infrastructure Ltd.||24/11/2014|
|45||Shree Sai Space Creation Ltd||24/11/2014|
|46||Arise Bhoomi Developers Ltd||02/12/2014|
|47||Vee Realties India Limited||02/12/2014|
|48||Sai Multi Services||02/12/2014|
|49||Kim Infrastructure & Developers Ltd||08/12/2014|
|50||KMJ Land Developers India Ltd||12/09/2014|
|51||Wisdom Agro Tech India Ltd||12/10/2014|
|52||Kalbut Real Estate Ltd||10/12/2014|
|53||Skylark Land Develpers Ltd||15/12/2014|
|54||Blessing Agro Farm India Ltd||15/12/2014|
|55||Ken Infratech Ltd||17/12/2014|
|57||Ecogreen Realestate (India) Limited||26/12/2014|
|58||Sai Prakash Properties Development Ltd||26/12/2014|
|59||GCA Marketing Pvt Ltd||30/12/2014|
|60||Karmabhumi Real Estate Ltd||30/12/2014|
|61||Sai Prakash Organic Foods Ltd||06/01/2015|
|62||Sai Prasad Foods Ltd.||14/01/2015|
|63||Sai Prasad Properties Ltd||14/01/2015|
|64||NICL India Ltd||14/01/2015|
|65||Utkarsh Plotters & Multi Agro Solutions India lTd||14/01/2015|
|66||Arohan Trustee Company Private Limited||21/04/2015|
|67||Garima Homes & Farm Houses Ltd||03/02/2015|
|68||Agri Gold Farms & Estates Ltd||05/02/2015|
|69||Suvidha Farming & Allied Ltd||12/02/2015|
|70||RBN Infrastructure India Ltd||25/02/2015|
|71||Anmol India Agro Herbal Farming and Dairies Care Co. Ltd||09/03/2015|
|72||Future Gold Infrabuild India Limited||13/03/2015|
|73||Shri Ram Real Estate and Business Solution Limited||17/03/2015|
|74||Mark Builders & Land Developers Limited||17/03/2015|
|75||Networth Marketing Limited||19/03/2015|
|76||Parivar Dairies and Allied Limited||30/03/2015|
|77||Swar Agrotech India Ltd||30/03/2015|
|78||Swar Agroteak and Housing India Private Limited (SAHIPL)||30/03/2015|
|79||Prosperity Agro India Limited||31/03/2015|
|80||Rich Infra Developers India Ltd||31/03/2015|
|81||BNP India Developers And Infrastructure Ltd||31/03/2015|
|82||Viswas Real Estates and Infrastructure India Ltd||27/04/2015|
|83||USK India Ltd.||07/05/2015|
|84||Insure Life Infrastructure India Limited||08/05/2015|
|85||Susk India Ltd.||29/05/2015|
|86||Citrus Check inns||03/06/2015|
|87||Capacious Farming Ltd||16/06/2015|
|88||IPN Land Developers And Allied Ltd and its Directors||22/06/2015|
|89||V3 Infrastructure & Estates Private Ltd and its Directors/Promoters||23/06/2015|
|90||Emerging India Infra Limited||26/06/2015|
|91||Bhoomi Devcon and Agritech Ltd||29/06/2015|
How to contact SEBI and give feedback on CIS cases?
SEBI has provided a facility to share your grievances regarding Collective Investment Schemes. If you have been duped by any of the above entities, you may contact SEBI and share your feedback.
- Visit SEBI’s website – click here
- Select the option ‘Collective Investment Scheme’ under ‘Relating to’ field and share your grievances / feedback with SEBI.
(Image courtesy of Stuart Miles at FreeDigitalPhotos.net)
RESPECTED SIR, ALL INVESTER ARE WAITING FOR NEXT HARD ACTION REGARDING ( GARIMA HOMES & FARM HOUSES LTD.) WTM/PS/40/EFD/MAY/2016 WHO CHEAT ALL INVESTER , EMPOLAY . WHO COMPANY ARE NOT FOLLOW ANY ORDER OF SEBI .
SO I REQUESTING PLS. TAKE HARD ACTION AGAINST THIS TYPE ALL COMPANY AND ISSU HARD GUIDE LINE WITHOUT WAISTING ANY TIME.
RESPECTED SIR, CAN I ASK YOU REGARDING PR NO. 92/2016 WHO ORDER PASSED ON GARIMA REAL ESTATE & ALLIED LTD BY SEBI. I AM WAITING FOR NEXT HARD STEP ON THIS CO. WHO CHEATED ALL INVESTER. ALL INVESTER ARE DEPENDED ON SEBI FOR SOLVE THIS PROBLEM . AND WHAT IS THE NEW HARD GUID LINE FOR INVESTER ,AGENT,COMPANY, & CO.STAFF WHO INGUEGD IN THIS FROUD TYPE COMPANY.
Thank you very much, sir for rendering such an important advice.
I m puja n mere parents k paise bhi remac realty india pvt. Lmt. Me fase hue hai. Sebi apni karyawahi kr rha h pr mujhe ye janna hai ki ye sab kab khtm hoga or jo b investors ne invesments ki h company me wo paise kb refund hoge. Plz koshish kijiye ki ye sb jld se jld ho jae wrna paiso ki wjh se bhot se garibo ki jaan chli jaegi plz help us please do smthng as soon as possible
in last month only i hv invested 5 lacks in Citrus Check inns for monthly income shceme for 5 yrs… just now i read ths article and i got to know its been barred…..what cn i do now for ths…
plzzzz help me..
SEBI has barred this company from raising deposits in the month of June 2015 itself.
What is the main reason for you to invest such amount in this company’s scheme?
Suggest you to submit your complaint to SEBI through the link provided in the article.
Dear sreekanth reddy sir, I have invested money in SAI PRAKASH PROPERTIES DEVELOPMENT LTD now I am in need of money but its office in my city was closed 5 month ago so please help me sir how I can recover my money.
Dear Jitendra..Kindly first submit your grievance with the company. If you do not get any response then file a compliant with MCA/SEBI or take legal action.
Sir,I am invested in HBN daries n allied limited since 2008 but my money till not give us.sir please take action this company
Thanks for the article. Now I know what questions to pose when a investment company like this approaches me. Many of my neighbours and relatives were cheated by Agrigold. Any idea what is happening wih Agrigold settlemnt or SEBI order. Thanks again for all your posts especially on MFs
I think Andhra Pradesh govt is going to auction the Agrigold’s assets and repay the depositors. Kindly try to educate as many people as possible about these kind of bogus collective investment schemes.
I have invested money in Royal Twinkle Star Club Ltd but till now I have not received my maturity claim (In Royal Twinkle’s case, as soon as SEBI’s latest order uploaded on our website (on 25th August) http://www.moneylife.in/article/sebi-puts-the-squeeze-on-royal-twinkle/43224.html ,So please give more information about how to claim refund,
I kindly request you to advise me about UTI Nifty and Sensex ETF, whether is good or best to invest.
Dear Chokkalingam..let me know your investment time-frame??
Sir I invested 2 lakh in PACL but they didn’t give me back pl how to get it back pl tell me.
Nothing much can be done. You may have to deal with them legally. Do you know any other investors who have been cheated by them?
If so, form as a group and approach them. Also, as given in the article, do write your feedback about the PACL deposit scheme to SEBI.
Nicer Green Housing and infra. dev. company made fraud with me and now not paying my hardcore money back. pl help, my contact no is 09636114***
I believe that it is now very tough to get back your money. What are they saying to the depositors like you? Are they willing to repay atleast the principal amount?