Shri Rajeev Kumar Agarwal, Whole Time Member, SEBI has passed an order dated April 23, 2013 directing M/s. Saradha Realty India Ltd. and its Managing Director, Mr. Sudipta Sen,  to wind up its existing collective investment schemes and refund the money collected by it under the schemes with returns which are due to the investors as per the terms of offer within a period of three months from the date of this order and submit a winding up and repayment report to SEBI. Also the company and its Managing Director have been directed not to access the capital market and have been further restrained and prohibited them from buying, selling or otherwise dealing in the securities market till all its collective investment schemes are wound up and all the monies mobilised through them are refunded to the investors.

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