You are here: Home » Markets » News
Business Standard

Sebi orders nearly Rs 40-crore recovery from two dozen defaulters

The defaulters are 11 directors of Mass Infra Realty, five directors of Skymarg Agro, Life Care and its seven directors

Topics
Sebi | defaulters

Press Trust of India  |  New Delhi 

Sebi
Sebi had directed Mass Infra Realty and Skymarg Agro in April 2016 and November 2017, respectively, to refund money to investors

The Securities and Exchange Board of India (Sebi) has ordered attachment of bank and demat accounts of two dozen in the matters of three companies — Mass Infra Realty, Skymarg Agro Industries India, and Life Care Real Developers — to recover dues totalling nearly Rs 40 crore.

The are 11 directors of Mass Infra Realty, five directors of Skymarg Agro, Life Care and its seven directors, the regulator said in three separate notices.

The decision has been taken after Mass Infra Realty and Skymarg Agro failed to comply with Sebi’s direction to refund money to investors to the tune of Rs 37.9 crore and Rs 30.67 lakh respectively.

had directed Mass Infra Realty and Skymarg Agro in April 2016 and November 2017, respectively, to refund money to investors.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, September 03 2020. 00:58 IST
RECOMMENDED FOR YOU
.