Jul 29, 2002
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Orders :
Orders of Chairman/Members
SECURITIES AND EXCHANGE BOARD OF INDIA
DIRECTIONS UNDER SECTION 11B OF THE SEBI ACT, 1992 READ WITH REGULATIONS 65, 73 AND 74 OF SEBI (COLLECTIVE INVESTMENT SCHEMES) REGULATIONS, 1999 ISSUED TO:-
M/S. GOLDENLAND DEVELOPMENT (INDIA) LTD., CHANDIGARH
Vide Order dated February 5, 2002, directions under Section 11B of the SEBI Act, 1992 read with Regulations 65 & 73 of SEBI (Collective Investment Schemes) Regulations, 1999 were issued to you as you, having failed to get registration from SEBI, had failed to wind up your existing collective investment schemes and make repayments to your investors in accordance with the provisions of the SEBI (Collective Investment Schemes) Regulations, 1999. As per the said Order, you were directed to refund the money collected under the scheme(s) with returns which is due to the investors as per the terms of the offer within a period of one month from the date of the said Order.
As you have failed to comply with the directions of the said Order, you have violated the provisions of Regulation 73 of the SEBI (Collective Investment Schemes) Regulations, 1999.
Now, therefore, in exercise of the powers conferred under Section 11B of the SEBI Act, 1992, I hereby debar you/your promoters/your directors/your managers/persons in charge of the business of your schemes (whose names are mentioned in Annexure) from operating in the capital market and from accessing the capital market for a period of 5 years from the date of this Order.
Place: Mumbai
Date: July 29, 2002
G.N. BAJPAI
CHAIRMAN SECURITIES AND EXCHANGE BOARD OF INDIA
Annexure
Names of promoters
Mr. Vinod Mahajan- also director
Mr. Lembhar Singh - also director
Name of other director
Mr. A.S.Anil
S/o Mr. Panchkoo Ram
Names of managers/persons in- charge of business of schemes
Mr. Ravi Mahajan, General Manager
Mr. G.S. Saunkhla, Manager
Mr. Rita Sharma, Assistant Manager
Mr. Kamaljit Kaur, Assistant Manager
Mr. Shashi Sanaoria, Executive Officer
Mr. Jalam Singh, Branch Manager
Mr. Narayan Sharma, Branch Manager
Mr. B.S. Guleria, Branch Manager
Mrs. Babu Ram Sharma, Branch Manager
Mr. Om Bir Singh, Branch Manager
Mr. Monika Sharma, Branch Manager
Mr. Sananta Kumar Behra, Chief Dev. Adviser
Mr. Jugal Madhaba Khandual, Dev. Adviser
Mr. Santosh Kumar Jena, Dev. Adviser
Mr. Pratap Chandra Panigrahy, Dev. Adviser
Mr. Ramesh Patro, Branch Manager