Order in the matter of Royal Twinkle Star Club Limited and its Directors

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Shri Prashant Saran, Whole Time Member, SEBI, has passed an order on August 21, 2015 in the matter of Royal Twinkle Star Club Limited and its directors under Sections 11(1), 11(4) and 11B of 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 16-19, Shilpin Center, 1st Floor, 40, G.D. Ambedkar Marg, Wadala, Mumbai - 400031. The order directed Royal Twinkle Star Club Limited and its Directors, Mr. Omprakash Basantlal Goenka, Mr. Prakash Ganpat Utekar, Mr. Venkatraman Natarajan  and Mr. Narayan Shivram Kotnis:

1. shall abstain from collecting any money from the investors or launch or carry out any Collective Investment Schemes including the scheme which have been identified as a Collective Investment Scheme in the above order.
2. are 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.
3. shall wind up the existing Collective Investment Schemes and refund the money collected by the said company under the schemes with returns which are due to its investors as per the terms of offer within a period of three months from the date of this Order and thereafter within a period of fifteen days, submit a winding up and repayment report to SEBI in accordance with the SEBI (Collective Investment Schemes) Regulations, 1999, including the trail of funds claimed to be refunded, bank account statements indicating refund to the investors and receipt from the investors acknowledging such refunds.
4. shall not alienate or dispose off or sell any of the assets of Royal Twinkle Star Club Limited except for the purpose of making refunds to its investors.
5. directed to provide a full inventory of all their assets and properties and details of all their bank accounts, demat accounts and holdings of shares/securities, if held in physical form.

The Company was engaged in fund mobilizing activity from public by floating/sponsoring/ launching unregistered / unauthorized Collective Investment Scheme (CIS) as defined in section 11AA of the SEBI Act, 1992.

The full text of the order is available on the website: www.sebi.gov.in