|Chennai||Rs. 27770.00 (-0.14%)|
|Mumbai||Rs. 29200.00 (2.31%)|
|Delhi||Rs. 27900.00 (-0.36%)|
|Kolkata||Rs. 28270.00 (1%)|
|Kerala||Rs. 27050.00 (-0.37%)|
|Bangalore||Rs. 27550.00 (1.66%)|
|Hyderabad||Rs. 27770.00 (-0.14%)|
The Securities and Exchange Board of India (Sebi) on Tuesday directed Kolkata-based Sumangal Industries (SIL) and its several promoters and directors to wind up its existing collective investment schemes (CIS) and refund the money collected to investors within three months.
Sumangal Industries had collected money from investors under its 'potato purchase schemes'. Sebi's investigations found various schemes of the company are akin to CIS, which comes under the jurisdiction of Sebi.
Sebi has also barred the company from collecting any money henceforth from investors or carry out CIS activities. Sebi said if the company failed to refund money to investors, it would initiate criminal proceedings against Sumangal Industries or its promoters.