Jul 29, 2002
|
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. VERSATILE RESORTS & GARDENS INTERNATIONAL LTD., GREATER NOIDA (U.P.)
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. Kamaljeet Singh
(S/o Mr. Jagdish Singh)
Mr. Amit Kundu
(S/o late Mr. B.C. Kundu)
Mr. Gurjeet Singh
(S/o late Mr. Buta Singh)
Mr. Jagmohan Rawat
(S/o Mr. S.S. Rawat)
Mr. Bhushanendu Kumar Verma
(S/o Mr. Shiv Kumar Verma)
Mr. Prithi Paul Singh Sethi - also director
(S/o Mr. R.S. Sethi)
Mr. R. Prasad - also director
Mr. Chand Kumar Verma - also director
Mr. Feroze Khan
Names of other directors
Mr. R.B. Singh
(S/o Mr. Shanker Lal)
Mr. R.P. Sharma
Names of managers/persons-in-charge of business of schemes
Mr. R.D. Besoya, General Manager
Mr. P.C. Panni, Advisor
Mr. S.K. Dass, Senior Executive
Mr. R.R. Maurya, Senior Executive
Mr. A.K. Mandal, Senior Executive
Mr. B.C. Roy Chaoudhary, Development director
Mr. R.K. Pathak, Development Director
Mr. V.K. Verma, Manager
Mr. Sushil Dixit, Manager
Mr. Akif Ayubi, Manager
Mr. Harpal Singh, Manager