Sebi acts against goat/buffalo CIS

The Securities and Exchange Board of India (Sebi) has passed an order restricting the activities of a collective investment scheme which promised investors returns through investments in livestock including goats and buffalo.

The company, Samruddha Jeevan Foods India Limited (SJFIL) promised investors returns of more than 12% through its schemes.

The company and its directors have been barred from raising additional capital or disposing of its assets until further orders.