SEBI bars Samruddha Jeevan Foods, directors from collecting money from investors
Moneylife Digital Team 06 November 2013

Samruddha Jeevan Foods and its directors are barred from raising money from investor under any of its schemes. SEBI also asked them not to dispose of any assets or divert funds raised from public

Market regulator Securities and Exchange Board of India (SEBI) has asked Samruddha Jeevan Foods India Ltd and its directors Mahesh Kisan Motewar, Vaishali Mahesh Motewar and Ghanshyam Jashbhai Patel not to collect money from investor.

 

In an order, S Raman, whole time member of SEBI directed the company and its directors "not to collect any more money from investors including under the existing schemes, not to launch any new schemes, not to dispose of any of the properties or alienate any of the assets of the schemes and not to divert any funds raised from public at large which are kept in bank account(s) and/or in the custody of the company."

 

SEBI said Samruddha Jeevan Foods was prima facie found to be engaged in fund mobilising activity from public by floating 'collective investment schemes' (CIS) as defined in Section 11AA of the SEBI Act.

Comments
Nishmitha Poojari
7 years ago
give give sallarry to staff and agents. samruddha jeevan totaly cheating.
Aditya
7 years ago
now they opened a new society with name M/S Samruddha Jeevan Multi State, Multipurpose Cooperative Society Limited for collecting money.

Govt only react after fraud or scam...

just we know its doing fraud but we cant do anything peoples who invest are low income or labour class who dont know about this scams...
Aditya
7 years ago
List of companies issued by Ministry of Corporate Affairs doing fraud in Public so be aware of these companies and don't invest in these companies as govt will not help if invest money in this listed companies.

spread awareness

http://www.mca.gov.in/Ministry/pdf/Rajya...
Aditya
7 years ago
List of companies issued by Ministry of Corporate Affairs doing fraud in Public so be aware of these companies and don't invest in these companies as govt will not help if invest money in this listed companies.

spread awareness

http://www.mca.gov.in/Ministry/pdf/Rajya...
Surender Bhadana
8 years ago
Samruddha jeevan is the one of the best companies in the market which provides the employment to unemployed people and motivates peoples to save money today for Tomorrow.

Regards:
Surender Bhadana
9718057100
Kamlesh Bhatt
Replied to Surender Bhadana comment 6 years ago
Plz give your latest number. It says the no.given above doesnot exist.
gopal rastogi
8 years ago
samruddha jeevan funds collection still continue in all the states and also new offices also opend in the diffrent tehsil hq,and ditrict level, sebi have any control over it.?.
lalit kumar
8 years ago
ye company aaj bhi market se paisa utha rhi hai . agar SEBI ne ise roka hai to phir ye deposet kaise le sakti hai . aur aisi kai company aur bhi hai jaise PINCON GROUP , GREENAGE FOOD PROCTS LTD . ye bhi market me kafi mota interest rate ke sath paisa utha rhi hai kya ye leagel hai. plz tell me
DILEEP
8 years ago
How can we get now our deposit from them ... Pl. reply
Yuvraj
8 years ago
But still they are collecting money through there offices.
md khaleed
Replied to Yuvraj comment 7 years ago
They will give a certificate named as sale registration letter and after completing the given period the customer can go to the branch office and submit all original documents which was provided by the company and as well as his id proof photo copy the the branch will send to head office pune it will take 15 days time and the cheque will release that s it,,,,,,,,,,
Rahul
8 years ago
I had written to Moneylife regarding the scam a few months back. I was expecting a public awareness articles from Moneylife. Now finally the SEBI order has arrived. This is a starting point of fall of the 'Samruddha Jeevan Empire' as they cant pay the high interest from their so called business activity. On top of it people will demand their deposit back which will mean that the business will go bust.
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