The Securities and Exchange Board of India (Sebi) has directed Suman Motels to refund the money collected from investors under its collective investment scheme (CIS) along with returns promised to them within a month from the date of the order passed on July 19, 2002.
If the company fails to comply with the order, Sebi will initiate prosecution under Section 24 of Sebi Act and debar the company and its officials from operating in and accessing the capital market for five years.
The matter will also be referred to the concerned state government and local police to register a
