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. SURBHI AGROTECH LTD., CHANDIGARH
Vide Order dated April 17, 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 (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
Shri Prem Prakash Chaturvedi - also director
(S/o Late Shri Arun Kumar Chaturvedi)
Shri Krishan Kumar
S/o Shri Sunder Lal
Shri Vijay Naidu - also director
(S/o Shri V.G. Naidu)
Shri Naresh Chander Kaushik
(S/o Shri Narayan Dutt Kaushik)
Ms. Jyoti Prabha Kaushik - also director
(W/o Shri Ashwani Kaushik)
Shri Mukesh Arora
(S/o Shri R.K. Arora)
Shri Rajiv Katyal
(S/o Shri R.K. Katyal)
Names of other directors
Dr. Ashwani Kaushik
(S/o Shri Naresh Kaushik)
Dr. Usha Kiran Chaturvedi
(W/o late Shri Arun Kumar Chaturvedi)
Shri Harish Kr. Popli
(S/o Shri Krishan Lal)
Shri Sunil Tyagi
(S/o Shri Dalchand Tyagi)
Shri Dayanand Mishra
(S/o late Shri D.L. Mishra)
Shri Vijay Kr Gupta
(S/o Shri Roshan Lal)
Shri Kichloo
(S/o Shri A.M.Kichloo)
Shri Sanat Kumar Panja
(S/o Shri Haban Lal)
Shri Gurpratap Singh Bhangu
(S/o Shri H.S. Bangu)
Shri Nahar Singh
Shri Amalendu Bhowmik
Shri Alpons Raja. Reddy
Shri M. Mallaraje URS
Shri Rajendra Kumar Singh
Shri Maghar Singh
Shri M.S.S.Pillat
Shri H.P. Bhardwaj
Shri Avtar Singh
Shri Bimal Sabarwal
Shri J.K. Bhandari
Shri Ved Shriram Balsod