ATTENTION
INVESTORS/ EXISTING COLLECTIVE INVESTMENT SCHEMES
The Central Government vide its press release dated November 18, 1997 decided that schemes through which instruments such as Agro Bonds, Plantation Bonds etc. are issued by entities would be treated as Collective Investment Schemes (CISs) coming under the provisions of the SEBI Act, 1992. Accordingly, SEBI vide its press release dated November 26, 1997 and its public notice dated December 18, 1997 directed existing schemes to file the details of their schemes with SEBI. In response, SEBI received information from 642 entities.
On notification of the SEBI (CISs) Regulations, 1999 on October 15, 1999 an existing collective investment scheme, subject to the provisions of Chapter IX of these Regulations, was required to make an application for grant of certificate of registration. The extended last date for making an application by such entities was March 31, 2000. SEBI has received applications for grant of certificate of registration from 35 existing entities who had earlier filed information with it. Besides, 2 entities who had earlier not filed information with SEBI have applied for registration.
Further, under the provisions of the Regulations an existing collective investment scheme which has failed to make an application or is not desirous of obtaining registration has to compulsorily wind up the schemes and make payment to the investors. Therefore, as per the provisions of the Regulations, the 605 existing entities, who had earlier filed information with SEBI and whose names are mentioned hereinbelow, have to compulsorily wind up their schemes and make payment to the investors latest by May 28, 2000 failing which they shall face the following legal / administrative action :
The names of the entities are as under