Sebi bars Haldhar Realty from raising money from investors

In a fresh crackdown against 'collective investment schemes', market regulator Sebi has restrained Haldhar Realty and Enterprises and its directors from raising money from investors under such a scheme.
Besides, it has barred the company from disposing of properties of the existing scheme.
Sebi has also prohibited Haldhar from diverting any funds raised from public as well money kept in bank account(s) or in the custody of the company.
The Securities and Exchange Board of India found that Haldhar was engaged in fund mobilising activity from the public by floating 'collective investment schemes' without obtaining certificate of registration from the regulator.

Sebi received a complaint in May last year alleging illegal mobilisation of funds through CIS, promising high returns.
"The scheme offered by Haldhar in the name of purchase and development of by way of its 'joint venture schemes' is nothing but a smokescreen for its fund mobilising activity," Sebi noted.

In an order passed yesterday, Sebi has directed "Haldhar and its directors -- ArvindKumar Lunkaran Vaktharia, Anita Arvindbhai Vaktharia and Lunkaran Kachraji Vaktharia not to collect any money from investors from its existing 'scheme'or to launch any new 'scheme'".
It also asked the company "to immediately submit the full inventory of the assets owned by Haldhar out of the amounts collected from the investors under its existing scheme".

Sebi has asked the companies to furnish all the information sought within 15 days from the date of receipt of this order, including, details of amount mobilised and refunded till date, scheme wise list of investors among others. These directions take effect immediately and will be in force until further orders.