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Criminal prosecution against plantation entities

MUMBAI JULY 15.

The Securities and Exchange Board of India has launched criminal prosecution in Delhi against eight plantation companies for violation of SEBI (Collective Investment Schemes) Regulations, 1999.

The companies had raised several lakhs of rupees from investors under various schemes and failed to wind them up and refund the amount despite directions of the market regulator, SEBI said in a release here today. The directors of the Endowment Projects (I), Golden Land Development, Golden Projects, Himgiri Plantations, United Agrogrowth and Resorts, United Capital Services (I), Veerbhumi Plantations and Versatile Plantations have also been prosecuted. — PTI

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