SEBI asks investors not to invest in 221 dubious companies
Moneylife Digital Team 31 December 2015
Market regulator Securities and Exchange Board of India (SEBI) has once again warned investor not to get lured to any investment schemes offered by 221 companies, including Sahara India Real Estate Corporation Ltd, Sahara Housing Investment Corporation Ltd, SGI Research & Analysis Ltd, Ramel Industries Ltd, among others.
 
In a release, SEBI said as on 15 December 2015, it has taken action against these 221 entities for issuance of securities in the form of non-convertible and convertible preference shares, non-convertible and convertible debentures or equity shares to investors, without complying with the prescribed provisions of law.
 
The market regulator said it has passed orders against these companies and individuals, who have acted as debenture trustees for debt issuance of companies without being registered with SEBI as Debenture Trustee as per SEBI Act, 1992. The companies are also warned not to collect money from investors, SEBI said.
 
Advising investors to see whether any such entity has filed offer document or filed application with Stock Exchange for listing, SEBI said investors should not subscribe to such issues that fails to show in the evidence.
 
Here is the list of companies against whom SEBI had passed orders...
 
Comments
Nikhil S Girme
1 decade ago
Post Mortem...Instead of circulating this by SEBI now if they had taken some preventive measures initially itself or had created a nationwide compaign on TV, Radio, Media to think before investing in such type of companies it would have been far far better.Now issue remains that after this ban what about general public whose money is stuck in these companies..This is where SEBI should be proactive rather than only banning such thickskinned promtoers of such dubious companies..SEBI has to do much much more than what is being done today.Article mentions in case of Secured Debentures action has been taken against Non registered trustees ...I would like to know why SEBI is not acting on IDBI Trusteeship Services Ltd who is a SEBI registered trustee and who was trustee of barred Neesa Technologies LTd NCD issue.Why doesnt SEBI take action on bigger so called track record walle Trustees who had vetted the NTL NCD issue.We have already complained to SEBI on subject matter but no response as of now
Suman Mondal
1 decade ago
Struck my mind,most of this companies are from West Bengal atleast what I can find from the list presented.Bengal society has collapsed in total there is nothing like value,moral ,ethics within bengali now all about cheating other.Hard to think how Bengal has changed .shame.
Suvendu Rath
1 decade ago
Strange, if the apex body thinks these are dubious companies why not ban in first place!
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