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Sebi Imposes Rs 1 Cr Fine On Alchemist Infra Realty, 4 Others For Unregistered Investment Activities
The company had mobilised funds to the tune of Rs 54.1 crore, Rs 449.41 crore and Rs 1,087.68 crore as on March 31, 2009, March 31, 2010 and March 31, 2011 respectively.
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Markets regulator Sebi has slapped a total fine of Rs 1 crore on Alchemist Infra Realty Ltd and four individuals for illegally mobilising funds from the public through a collective investment scheme.
The individuals who have been fined are Brij Mohan Mahajan, Narayan Madhav kumar, Balvir Singh and Chandra Sekhar Chauhan.
In an order passed on Monday, the watchdog said the company and individuals were engaged in fund mobilising activity from the public, which was in the nature of a Collective Investment Scheme (CIS). They had collected money from investors in the name of developing land.
SEBI slaps Rs 1 cr fine on Alchemist Infra Realty, four others for illegally mobilising funds
In an order passed on Monday, the watchdog said the company and individuals were engaged in fund mobilising activity from the public, which was in the nature of a Collective Investment Scheme (CIS)
PTI | February 23, 2021 | Updated 16:56 IST
The individuals who have been fined are Brij Mohan Mahajan, Narayan Madhav kumar, Balvir Singh and Chandra Sekhar Chauhan
Markets regulator Sebi has slapped a total fine of Rs 1 crore on Alchemist Infra Realty Ltd and four individuals for illegally mobilising funds from the public through a collective investment scheme.
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