KIM Infrastructure & Developers restrained from mobilising funds
Moneylife Digital Team 10 December 2014

The company and its directors are to wind up the existing collective investment schemes and refund the monies collected by the said company under the schemes with returns within a period of three months from the date of this Order

 

Prashant Saran, whole time member, SEBI, has passed an order on KIM Infrastructure & Developers Limited and its directors direct them viz.,  Ravinder Singh Sidhu, Rajesh Kumar,  Sukhpal Singh Barar and  Sanjib Sikdar, not to collect any money from the investors or launch or carry out any collective investment schemes.
 
They are to wind up the existing collective investment schemes and refund the monies collected by the said company under the schemes with returns 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.
 
They are not to alienate or dispose off or sell any of the assets of KIM Infrastructure & Developers Limited except for the purpose of making refunds to its investors as directed above; to immediately submit the full inventory of the assets and properties owned by KIM Infrastructure & Developers Limited.
 
They are not to access the securities market and are prohibited from buying, selling or otherwise dealing in securities market for a period of four years.
 
Further, former directors of the company, Palwinder Singh, Rana Raminder and Satnam Singh are restrained from accessing the securities market and would further be prohibited from buying, selling or otherwise dealing in securities market for a period of two years.
 
The company was engaged in fund mobilising activity from public by floating/sponsoring/ launching collective investment scheme (CIS) as defined in section 11AA of the SEBI Act, 1992.
 
Comments
sodiganesh8
11 months ago
I have some investment proof in kim infrastructure and developer limited kindly give me indication to refund my amount
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