The firm and its directors -- Nizzamuddin Sabbir, Abdul Slam, Manish Girdhari, Raju Jhunni, Sarif Khan and Bharat Kumar -- have been ordered to pay the fine jointly or separately.
Sebi had observed that Beetal was running a scheme of goat care with four plans and inviting the general public through various newspaper advertisements to invest in the scheme by offering guaranteed return of 1-2 per cent per month on a minimum investment of Rs 6,000.
Besides, Beetal was responsible for all expenses towards maintenance for goats, their insurance, feed and the like and had control over their rearing.
Another observation made by the regulator was that the investors did not take part in managing and utilisation of the contribution or investment forming part of the plans of Beetal at any stage under the scheme.
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"Since Beetal has launched collective investment schemes without obtaining certificate of registration from Sebi, it has contravened... The CIS Regulations," it added.
In an order passed in 2014, the regulator had restrained the firm and its directors from accessing the securities market and prohibited them from buying, selling or dealing in securities market till all their collective investment schemes were wound up and the money mobilised through them were refunded to the investors.
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