Sebi bars JSR Dairies, Adel Landmarks from raising funds

Pulling the plug on investment schemes run by JSR Dairies and Adel Landmarks, the regulator Sebi today restrained the two companies and their directors from collecting any fresh money from investors.
The Securities and Exchange Board of India (Sebi) found that these two companies were running a 'collective investment scheme' (CIS) without requisite approvals and registration.
In an interim order, Sebi directed Adel Landmarks and its directors "not to collect any fresh money from investors under its existing scheme."
The regulator, through a separate order, restrained JSR Dairies and its directors -- Rajesh Khera, Rajesh Niranjan, Lalit Kumar Arora and Praveen Kumar-- from raising any more money from investors including under the existing schemes.

Also, Sebi prohibited these firms from launching any new scheme or plan.
It also asked the companies to immediately submit the full inventory of assets owned by them.

The regulator asked the firms "not to dispose of any of the properties or alienate any of the assets of the schemes... not to divert any funds raised from public at large which are kept in bank account(s) and/or in the custody of the company."
Sebi has asked the companies to furnish all the information sought by the regulator within 15 days from the date of receipt of this order, including, details of amount mobilised and refunded till date, scheme wise list of investors among others.

These directions shall take effect immediately and shall be in force until further orders.