Wisdom Agro Tech India Limited and its directors restrained from collecting fresh money from investors
Moneylife Digital Team 10 December 2014

Wisdom Agro Tech India Limited had been collecting funds from the "customers/investors” for its land schemes, prima-facie violating the provisions of the SEBI Act and SEBI (Collective Investment Schemes) Regulations, 1999

 

S Raman, whole time member, SEBI, has passed an order on Wisdom Agro Tech India Limited and its directors viz.,  Anantharaman Nallaperumal,  Govinda Pillai Reghukumaran,  Gilbert James Dhason,  Kumaresan Vasanthakumari,  Jeyashoba Thankappan Rajam and Ex-Director Prabhu Kannan, directing them not to collect any fresh money from investors under its existing schemes and not to launch any new schemes or plans or float any new companies to raise fresh monies.
 
The order further directed the company and its directors not to dispose off or alienate any of the properties/assets obtained directly or indirectly through money raised from its schemes and not to divert any funds raised from public at large which are kept in bank accounts and/or in the custody of the company. 
 
The company was also directed to submit the latest inventory of its assets including land obtained through money raised.
 
Wisdom Agro Tech India Limited had been collecting funds from the "customers/investors” for its land schemes, prima-facie violating the provisions of the SEBI Act and SEBI (Collective Investment Schemes) Regulations, 1999.
 
Comments
Kiran Aggarwal
1 decade ago
Doing land schemes by using
misleading name
Agro Tech India .

Another PEARL REAL ESTATE SCAM IN MAKING .

SEBI SHOULD IMPOSE HEAVY PENALTY
FREEZE THE ASSETS
AND START LIQUIDATION

I AM CONVINCED THAT PROMOTERS WILL HAVE SHADY BACKGROUND - AS THEY HAVE BRAZENLY VIOLATED SEBI GUIDLINES
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