Sebi warns the public against the purchase of properties of Sunshine Global Agro, its directors

The warning statement occurs after Sebi discovered that some people or entities are buying illegally, invading/invading the properties of the company.

In response, Sebi, in a warning issued last week, warned the public against the purchase/treatment with any property in which the company and its directors have some directly or indirectly interest/right.

Sebi, in July 2014, prohibited Sunshine Global Agro (previously known as Sunshine Forestry Private Limited) and its directors collect investors’ funds, as well as launching any new scheme after discovering that the company was mobilizing funds under its schemes “Sale of the JHATROPHA Bush group and sale of plants/trees”. This plan was in the nature of a ‘collective investment scheme (CIS).

Subsequently, in February 2019, the regulator had directed Sunshine Global Agro and its director so as not to get rid of or sell any of the company’s assets, except for the purpose of reimbursement to investors.

After the breach of the management, Sebi began recovery procedures against the company and its directors.