SEBI Circulars 7 October, 2008

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PR No.203/2008

Order against M/s. Save Earth Herbs Ltd. Dr. T.C Nair, Whole Time Member, SEBI has passed an order dated September 22, 2008 against M/s. Save Earth Herbs Ltd. (SEHL). SEHL was operating Collective Investment Schemes (CIS) without obtaining registration with SEBI and thus failed to comply with requirements of the SEBI Act, 1992 and the SEBI (CIS) Regulations. SEHL has also failed to refund money or assets to investors along with the requisite interest as required under Regulation 65 of CIS Regulations. M/s. Save Earth Herbs Ltd. and their Directors have been directed to refrain from collecting any money from investors under its existing schemes with immediate effect; refrain from launching any new collective investment scheme(s); refund the money collected under its existing collective investment scheme(s) with returns which are due to the investors as per the terms of the offer and along with requisite interest (which should not be less than the bank interest) for delay, if any, within a period of one month from the date of the order failing which the following further actions would follow including: 1. Initiation of prosecution proceedings under Section 24 read with Section 27 of the SEBI Act, 1992 against SEHL / its promoters/ directors/managers/ persons-in-charge of the business of its scheme(s) also, whose names are mentioned in the schedule annexed to the order for failure to obey the above directions. 2. Debarring SEHL/ its promoters/ directors/ managers/ persons-in-charge of the business of its scheme(s), whose names are mentioned in the schedule annexed to the order from operating in accessing the capital market for a period of 5 years. 3. Reference to the state government/local police to register civil/criminal cases against SEHL/ its promoters /directors/managers/ persons-in-charge of the business of its scheme(s), whose names are mentioned in the schedule annexed to the order , for apparent offences of fraud, cheating, criminal breach of trust and misappropriation of public funds. 4. Reference to the Ministry of Corporate Affairs for initiating winding up proceedings against SEHL. The full text of the above order is available on the website: www.sebi.gov.in Mumbai October 06, 2008

Source: SEBI Date: 2008-10-07


PR No.200/2008

Consent order against Shri Anil Jain in the matter of Mazda Fabrics and Processors Ltd. A Panel consisting of Dr. T. C. Nair, Whole Time Member and Shri M. S. Sahoo, Whole Time Member has passed consent order dated September 30, 2008, on an application submitted by Shri Anil Jain, in the matter of Mazda Fabrics and Processors Ltd. in accordance with SEBI guidelines dated April 20, 2007 for consent orders. The applicant has remitted a sum of Rs. 6 Lakh towards the terms of consent in the matter. The order shall come into force with immediate effect. The full text of the order is available on the website www.sebi.gov.in Mumbai October 03, 2008

Source: SEBI Date: 2008-10-07


PR No.201/2008

Order in the matter of M/s. Subhash Projects & Marketing Ltd. Dr. T. C. Nair, Whole Time Member, SEBI has passed an order dated September 25, 2008 in the matter of M/s. Subhash Projects & Marketing Ltd. restraining M/s. Raj Investments, Ms. Samta Jain - Proprietor M/s. Raj Investments, M/s. Blue Chip Capital Markets Pvt. Ltd., Shri Sandeep Jain-Director M/s. Blue Chip Capital Markets Pvt. Ltd., M/s. Shri Vardhman Finvest Pvt. Ltd, Shri Raj Kumar Jain-Director M/s. Shri Vardhman Finvest Pvt. Ltd., M/s. Jain Enclave Pvt. Ltd., Shri Kuldeep Jain-Director M/s. Jain Enclave Pvt. Ltd, M/s. Sarawgi Developers Pvt. Ltd., Shri Sanjay Kumar Jain-Director M/s. Sarawgi Developers Pvt. Ltd. and Shri Raj Kumar Jain alias Patni from accessing the securities market and from buying, selling or dealing in securities for a period of six months. The order shall come into force with immediate effect. The full text of the order is available on the website: www.sebi.gov.in Mumbai October 03, 2008

Source: SEBI Date: 2008-10-07

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