Has asked the company to immediately submit the full and detailed inventory of the assets
GN Bureau | July 25, 2014
Kolkata-based real estate company Remac Realty India Ltd has been asked to stop its 'collective investment scheme' as per an order of SEBI. An interim order passed by S Raman, whole time member, SEBI has directed the company and its directors Partha Pratim Tewari, Arnab Roy and others not to collect any money from investors from its existing schemes or to launch any new scheme.
A collective investment scheme is an arrangement that enables a number of investors to 'pool' their assets and have these professionally managed by an independent manager. Investments may typically include gilts, bonds and quoted equities, but depending on the type of scheme may go wider.
It is alleged that the company is engaged in fund mobilizing activity from the public by floating, sponsoring or launching 'collective investment scheme' as defined in Section 11AA of the SEBI Act without obtaining a certificate of registration from SEBI.
The SEBI has asked the company to immediately submit the full and detailed inventory of the assets owned by Remac Realty out of the amounts collected from the applicants and investors under its existing schemes and has directed it not to dispose of any of the properties or alienate the assets of the existing schemes.
Department of Economic Affairs (DEA) and National Buildings Construction Corporation Ltd (NBCC) have signed an agreement for the construction of housing project for Indian Economic Service (IES) officers. For this, the urban development ministry has allotted 3,519 square metre of land on Dee
The foundation stone for the integrated office complex of director general of civil aviation (DGCA), bureau of civil aviation security (BCAS), airports economic regulatory authority of India (AERA), aircraft accident investigation bureau (AAIB) and airports authority of India (AAI) was laid by civil aviati
Civil society has paid rich tributes to Neelabh Mishra, veteran journalist and human rights activist, who died in Chennai Saturday after a prolonged battle with liver failure. The National Alliance of People`s Movements (NAPM) said it was deeply saddened to know of the untimely demise of its
It seems the process of procuring H-1B visas may get more difficult for the Indian IT companies with the new policy announcement by the US president Donald Trump. The new policy may hit the third party supplier base of the Indian IT firms in the US, the biggest users of H-1B visas. Moreover, now the H-1B m
Most of us would recall how sorely we needed a guide, a mentor, when we were in our twenties and starting out in a career, or in the deeper study of a branch of k
India is the fifth largest producer of e-waste in the world and has discarded approximately 18 lakh metric tonnes of e-waste in 2016, which is 12 percent of the global e-waste, according to a United Nations University study, ‘The Global E-Waste Monitor 2017’. In fact by 2020, India’s e-wa