Citrus Check Inns Limited is actually a new face of Royal Twinkle Star Club, infamous for selling holiday packages on a monthly installment basis and promising huge returns on investments. SEBI had also received complaints against Citrus from several investors claiming that the directors of Royal Twinkle Star Club Ltd. were operating a Collective Investment … Read more
The Rise of PACL PACL (Pearls Agrotech Corporation Limited) orchestrated one of India’s largest financial scams, misleading over 58 million investors into investing more than ₹60,000 crore with false promises of high returns in real estate and agriculture projects. Regulatory Crackdown In 1999, SEBI identified PACL’s activities as unauthorized collective investment schemes (CIS). By 2014, … Read more
As per SEBI’s investigation, Weird Industries had mobilized Rs. 3.45 crore through the issuance of redeemable preference shares to around 2000 individuals in 2008-2009 and 2009-2010. Apart from this, the company had also mobilized Rs. 14 crores through issuing non-convertible debentures (NCDs) in 2010 and 2011. Since the shares were issued by the company to … Read more
Weird Infrastructure Corporation limited is a real estate and renting company incorporated in June 2010. Based in Lucknow, the company had raised over Rs. 16 crores from investors via issuance of non-convertible debentures (NCDs) without complying with the public issue norms stipulated under the Companies Act 1956. In 2015, the Securities and Exchange Board of India … Read more
Scheme Kalyana Laxmi Scheme Assistance Rs 1,00,116/- on time Under State Government of Telangana Category Marriage assistance Status Kalyana laxmi pathakam status 2022 Official portal telanganaepass.cgg.gov.in Amount status TS Kalyana Lakshmi Amount Status 2022 Beneficiaries EWS families from SC/ST/BC/EBC category Kalyana Laxmi scheme is basically a welfare scheme by the Telangana government, mostly for poverty-ridden … Read more
In December 2015, the capital market regulator found that Greentouch Projects have illegally raised funds through the issuance of non-convertible redeemable debentures (NCDs) to about 20,549 individuals without complying with public issue norms stated under SEBI’s Issue and Listing of Debt Securities and the Companies Act 1956. Since the shares were issued by the company … Read more
Speak Asia, a multi-level marketing company, owes more than Rs. 2000 crore to about 1 lakhs of its investors. Registered in Singapore, Speak Asia only had operations in India. The company came under the scanner of investigating authorities after it became popular for promising easy money by merely filling out online surveys. In a crackdown … Read more
Sai Prasad Corporation Ltd (SPCL) has been found to raise money through collective investment schemes (CIS) without complying with the securities market norms. The company has illegally collected Rs. 137.12 crores during FY 2012-13 and Rs. 478.35 crores during 2013-14 through its subsidiary without obtaining a certificate of registration from the Securities and Exchange Board … Read more
The Justice (Retd.) R. M. Lodha Committee (in the matter of PACL Ltd.) (the “Committee”) vide public notices dated March 27, 2022 and April 12, 2022 had called for original PACL Registration Certificates from eligible investors with claims between Rs. 10,001/- and Rs. 15,000/- who receive SMS from the Committee requiring submission of the same. … Read more
KBCL India Ltd Case- A Brief Introduction How did the KBCL India Ltd scam get busted? KBCL India Limited Refund Status KBCL India Limited Latest Update KBCL India Ltd Case- A Brief Introduction Incorporated in 2002, KBCL India Limited (a unit of the Kalpataru group) is a non-government organization. It is mainly involved in the … Read more
PACL Chit Fund Refund latest news 2022: Investors of chit fund company Pearl Group (PACL) have got great news. SEBI has issued a new order for a refund. The Committee of the Securities and Exchange Board of India (SEBI) has approved the refund of claims up to Rs 15000. In the new order of SEBI, … Read more
SEBI has asked for information related to GCA Marketing properties for a refund GCA Marketing Private Limited is a chit-fund company that used to solicit money from investors in a form of single, monthly, and yearly plans and leased out plants with an assured buyback. As per the Punjab Agricultural Produce Markets Act, the company … Read more
This public notice provides an update on the payment status to investors/applicants of PACL Ltd. The Justice (Retd.) R. M. Lodha Committee had previously requested eligible investors to submit their original PACL certificates to receive payments. However, considering the difficulties faced by investors in submitting the original certificates, the Committee has decided to make payments … Read more
Kolkata Weir industries limited is an unlisted public company incorporated in May 2009. Set up in Parganas South, West Bengal, the company manufactures food products items and is operational in many states in the country. The company was accused of mobilizing about Rs. 48 crores raised from more than one lakh investors between 2009 and … Read more