NGHI Developers To Stop Collecting Funds : SEBI orders

The Indian share market regulator SEBI has directed NGHI Developers India Jaipur to stop collecting money from investors under various plans / schemes offered.

In an ex-parte interim order on recently, SEBI directed NGHI not to dispose off assets acquired from scheme funds without its permission.

NGHI promoters & directors Mr. Pipal Singh, Mr. Bakshish Singh & Mr. Avtar Singh have been restrained from accessing the securities market.

SEBI has directed NGHI to deposit the money collected from investors within 3 days.

NGHI has also been forbidden to replace certificates issued by a group firm Nicer Green Forests Ltd with its bonds or any other instruments. NGHI also has to provide SEBI with documents that the regulator has called for, within 7 days of receipt of the order.

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