Shri Prashant Saran, Whole Time Member, SEBI, has passed an order on December 17, 2014 in the matter of M/s. KEN Infratech Limited and its directors.
The registered office of the company is located at No.3413, Mahendra Park, Rani Bagh, New Delhi. The order directed the company and its directors viz., Mr. Sukhwinder Singh, Mr. Sukhchain Singh and Mr. Kuldeep Singh; not to collect any money from the investors or launch or carry out any Collective Investment Schemes including the schemes which have been identified as a Collective Investment Scheme in the Order; to wind up the existing Collective Investment Schemes and refund the monies collected by the said company under the schemes with returns within a period of three months from the date of the Order and thereafter, within a period of fifteen days, submit a winding up and repayment report to SEBI; not to alienate or dispose off or sell any of the assets of KEN Infratech Limited except for the purpose of making refunds to its investors as directed above; to immediately submit the full inventory of the assets and properties owned by KEN Infratech Limited; not to access the securities market and are prohibited from buying, selling or otherwise dealing in securities market for a period of four (4) years.
Further, former director of the Company, Mr.Gurwinder Singh is restrained from accessing the securities market and would further be prohibited from buying, selling or otherwise dealing in securities market for a period of two (2) years.
The Company was engaged in fund mobilizing activity from public by floating/sponsoring/ launching Collective Investment Scheme (CIS) as defined in section 11AA of the SEBI Act, 1992.
The full text of the order is available on the website: www.sebi.gov.in
