RBI Grade BNABARD ESISEBI
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Source: The Telegraph
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Key Highlights
- Markets regulator SEBI has warned the public against buying or dealing with properties owned by Sunshine Global Agro and its directors.
- Reason for Warning: SEBI discovered that some individuals/entities are illegally purchasing, encroaching, or trespassing on the company’s properties.
- Legal Consequences: SEBI has made it clear that unauthorized possession or trespassing will lead to legal action under applicable laws.
Background
- 2014 Ban: SEBI prohibited Sunshine Global Agro (formerly Sunshine Forestry Pvt. Ltd.) from raising funds from investors or launching any new schemes. The company was found to be running an unauthorized Collective Investment Scheme (CIS) involving the sale of Jatropha Bush Groups and plant/trees.
- 2019 Directive: SEBI barred the company and its directors from selling or disposing of assets, except for refunding investors.
- Non-Compliance & Recovery Action: After Sunshine Global Agro failed to comply, SEBI initiated recovery proceedings against the company and its directors.
Public Advisory
- Avoid transactions involving properties linked to Sunshine Global Agro.
- Verify ownership records before engaging in any property deals.
- Unauthorized dealings may lead to legal action by SEBI.