Order in the matter of M/s Viswas Real Estates and Infrastructures India Limited

Shri Prashant Saran, Whole Time Member, SEBI, has passed on order on April 27, 2015 in the matter of Viswas Real Estates and Infrastructures India Limited against the company and its Directors under the Securities and Exchange Board of India Act, 1992, the Securities and Exchange Board of India (Collective Investment Schemes), Regulations, 1999 and the Securities and Exchange Board of India (Prohibition of Fraudulent And Unfair Trade Practices Relating to Securities Market) Regulations, 2003.

The Registered Office of the Company is situated at Plot No.142 BD, 142 A, Shop No. 3, Balaji Commercial Complex, Bhagyanagar Colony, Opp. KPHB colony, Hyderabad, Telangana.

The Order inter-alia directed the company and its Directors, Mr Vaka Saradhi and Mr Eshararao Gundala to:

• Abstain from collecting any fresh money from the investors under its existing schemes.
• Not to launch any new schemes or plans or float any new companies to raise fresh moneys.
• To wind up the existing Collective Investment Schemes and refund the money collected by the said company under the schemes with returns due to its investors.
• Not to dispose of or alienate any of the properties/assets obtained directly or indirectly through money raised by the company except for the purpose of making refunds to its investors as directed.
• To restrain from accessing the securities market and stand prohibited from buying, selling or otherwise dealing in securities market for a period of four (4) years.

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