Certain Collective Investment Scheme(s) (CIS) have come to the notice of SEBI, which are offered by entities which are not registered with SEBI nor offer document of such schemes have been filed with SEBI.
Appropriate actions have been taken against such entities and its Directors and since January 01, 2011, SEBI has passed orders against 91 entities and its Directors, carrying on unregistered CIS.
As part of interim directions, SEBI inter-alia directs the entities and its Directors to stop collecting further money under existing / new schemes, not to launch any new scheme or float any new companies/firm to raise fresh money, not to divert or alienate any assets or money collected. As part of final directions, SEBI directs winding up of unregistered schemes of the entities, repayments to investors and inter-alia also debars the entity and its Directors from accessing the Capital markets.
A list of the Companies against whom orders have been passed by SEBI since 2011 till June 2015 is given below with this press release.
Investors and general public are hereby cautioned that other than “GIFT Collective Investment Management Company Limited” no other entity is registered with SEBI under the CIS Regulations.