Shri Prashant Saran, Whole Time Member, SEBI, has passed an order on April 21, 2015 in the matter of Arohan Trustee Company Private Limited under the Securities and Exchange Board of India Act, 1992 read with Regulation 65 of the Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999.
The Registered Office of the Company is situated at 603-A, Dheeraj Heritage Residency-1, E2, Linking Road, Daulat Nagar, Santacruz West, Mumbai - 400054. The order directed the company to abstain from collecting any money from the investors or launch or carry out any Collective Investment Schemes; the company is restrained from accessing the securities market and are prohibited from buying, selling or otherwise dealing in securities market for a period of four (4) years; to refund the entire monies collected by it under its scheme to all the investors along with an interest at the rate of 10% per annum (from the date of investment till the date of part refunds); to submit the complete and detailed inventory of the assets owned by Arohan Trustee Company Private Limited.
The Company was engaged in fund mobilizing activity from public by floating/sponsoring/ launching unregistered / unauthorized Collective Investment Scheme (CIS).
The full text of the order is available on the website: www.sebi.gov.in
