• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai , April 29

A DELHI court has passed an order convicting Seth Dhan Raj Agro India Ltd and its directors (the accused persons) who were held guilty for offence punishable under Section 24 read with Section 27 of the Securities and Exchanges Board of India (SEBI) Act.

The Court has imposed a fine of Rs 5,000 each on the accused and in the event of non-payment they have to undergo three months simple imprisonment, a SEBI circular said.

SEBI had filed prosecution under the SEBI Act, 1992 against Seth Dhan Raj Agro India Ltd, New Delhi, and its directors. The company was operating collective investment schemes. Dhan Raj Agro Ltd raised several crores of rupees from the investors under various schemes and failed to register the schemes with SEBI or to wind up the schemes and refund the amounts to the investors, despite several directions of SEBI to do so, stated a SEBI circular.

More Stories on : Economic Offences | Courts/Legal Issues

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
MFs with unlisted securities draw investor interest

Copyright © 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line