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Sebi bars Agri Gold from raising funds
Highlights
Continuing its crackdown on illicit realty investment activities, Sebi on Thursday barred Andhra Pradesh-based Agri Gold Farm Estates India (AGFEIPL) from raising fresh capital from the public with immediate effect. Besides, it directed the company not to launch any new scheme.
Hyderabad/Mumbai: Continuing its crackdown on illicit realty investment activities, Sebi on Thursday barred Andhra Pradesh-based Agri Gold Farm Estates India (AGFEIPL) from raising fresh capital from the public with immediate effect. Besides, it directed the company not to launch any new scheme.
The Securities and Exchange Board of India (Sebi) found that Agri Gold was running 'collective investment schemes' without obtaining registration from the regulator. The company was inviting investments from the general public through various schemes. Accordingly, Sebi directed AGFEIPL and its directors not to collect any fresh money from investors under its existing schemes.
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