General public is hereby informed that SEBI has passed order dated January 14, 2015 in the matter of Sai Prasad Foods Limited (hereinafter referred as SPFL) wherein, the company and its promoters and directors have been inter-alia directed to wind up the existing Collective Investment Schemes (CIS) and refund the monies collected under the said schemes with returns which are due to investors as per the terms of offer/ agreement within a period of three months from the date of the Order.
In this regard, it has come to the notice of SEBI that this company had been incorporated as "Sai Prasad Marketing Pvt. Ltd." (hereinafter referred as SPMPL) and the company later on changed its name to SPFL.
The general public is, therefore, cautioned against any possible investment in the collective investment schemes in the name of SPMPL. Further, existing CIS investors with the companies may approach SPFL for refunds as already directed by SEBI vide the said order.
The full text of the order against SPFL is available on the website: www.sebi.gov.in