Interim
\nOrder against NICL India Ltd. and its directors, Mr. Phool Singh Choudhary, Mr.
\nHarish Sharma and Mr. Abhishek S. Chauhan<\/strong><\/p>\n

Shri S. Raman, Whole Time Member, SEBI, has prima-facie found
\nthat NICL India Ltd., having its registered office at H.No. 50, G-3
\nPalashParisar, Nav Door Sanchar Colony, Gulmohar, Bhopal, Madhya Pradesh –
\n462016 has been illegally raising money from public and accordingly passed an
\ninterim order dated January 14, 2015 against the company and its
\ndirectors, Mr. Phool Singh Choudhary, Mr. Harish Sharma and Mr. Abhishek S.
\nChauhan, under SEBI Act, 1992 read with SEBI (Collective Investment Scheme)
\nRegulations, 1999. The order directs the company and its promoters\/ directors:<\/p>\n

 <\/p>\n

(a)  not to collect any fresh moneys from investors from
\nits existing scheme; <\/p>\n

(b)  not to launch any new scheme\/plan or float any new
\ncompanies\/firm to raise fresh moneys;<\/p>\n

(c) not to dispose of any of the properties or alienate the
\nassets of the existing scheme;<\/p>\n

(d) not to divert any funds raised from public at large, kept in
\nbank account(s) and\/or in the custody of the company;<\/p>\n

(e)  to immediately submit the full inventory of the assets
\nowned by NICL India Ltd. out of the amounts collected from the
\n“customers”\/investors under its existing schemes;<\/p>\n

 (f)  to furnish all the information sought by SEBI,
\nwithin 21 days of the receipt of this Order, including,<\/p>\n

     (i) scheme wise list of investors and
\ntheir contact numbers and addresses, who have invested in the scheme till date,<\/p>\n

     (ii)  the details of amount mobilized
\nand refunded till date<\/p>\n

 <\/p>\n

The full text of the order<\/a> is
\navailable on the website: www.sebi.gov.in<\/p>\n

\n

Mumbai<\/p>\n

January 16, 2015<\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[14],"tags":[213],"class_list":["post-1290","post","type-post","status-publish","format-standard","hentry","category-investment","tag-sebi"],"yoast_head":"\n