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July 15, 2002
PR No. 130/2002
Prosecution against entities operating unregistered Collective Investment Schemes
Prosecution Department
Securities and Exchange Board of India has launched criminal prosecution at Delhi against the following companies for their violations of SEBI(Collective Investment Schemes) Regulations, 1999. The said companies raised several lakhs of rupees from the investors under various schemes and failed to wind up the schemes and refund the amounts to the investors, despite directions of SEBI to do so. The directors of the said companies have also been prosecuted.
| 1. Endownment Projects (I) Ltd. |
| 2. Golden Land Development Ltd., |
| 3. Golden Projects Ltd |
| 4. Himgiri Plantations LtD. |
| 5. United Agrogrowth and Resorts Ltd. |
| 6. United Capital Services (I) Ltd. |
| 7. Veerbhumi Plantations (I) Ltd |
| 8. Versatile Plantations Ltd. |
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