Market regulator Securities & Exchange Board of India (SEBI) has invited bids to sell 15 immovable properties in the recovery proceedings against Sun Plant Agro Ltd,
CBI arrests ex-MDs of 2 cos in cheating cases
By IANS| Published: 25th December 2020 8:00 am IST
New Delhi, Dec 24 : The Central Bureau of Investigation (CBI) on Thursday said it has arrested the former Managing Directors of two companies in two separate cases related to ponzi schemes.
A CBI official said that in the first case, the agency arrested Awdhesh Singh, then Managing Director of Sun Plant Agro Ltd. The CBI has registered a case against Sun Plant Agro Ltd, its directors and others.
The official said that it was alleged that Singh in pursuance to a conspiracy with others had illegally collected Rs 697.72 crore from investors under various fraudulent schemes on assurance of paying high returns on such investments on maturity.