MCX STOCK EXCHANGE LIMITED Market Operations - Investigation Department Circular No.: MCX-SX/ID/2489/2014 December 29, 2014 SEBI order in respect of Ecogreen Realestate India Limited and its directors SEBI vide its order no: WTM/PS/58/NRO-CIS/DEC/2014 dated December 26, 2014, has issued the following directions: 1. Ecogreen Realestate India Limited (PAN: AACCE6014F) and its promoters and directors including, Mr. Avneesh Verma (DIN: 03063709), Mr. Chandra Prakash Verma (DIN: 03063835; PAN: AJYPV9387Q), Mr. Ajay Kumar (DIN: 03093374) and Mr. Ram Samujh Yadav (DIN: 03063607; PAN: ADIPY9791P) shall abstain from collecting any money from the investors or launch or carry out any Collective Investment Schemes including the schemes which have been identified as a Collective Investment Scheme in this order. 2. Ecogreen Realestate India Limited and its Directors, Mr. Anveesh Verma, Mr. Chandra Prakash Verma, Mr. Ajay Kumar and Mr. Ram Samujh Yadav are restrained from accessing the securities market and are prohibited from buying, selling or otherwise dealing in the securities, in any manner, for a period of 4 years. 3. Ecogreen Realestate India Limited and its promoters and directors including, , Mr. Anveesh Verma, Mr. Chandra Prakash Verma, Mr. Ajay Kumar and Mr. Ram Samujh Yadav, shall wind up the existing Collective Investment Schemes and refund the monies collected by the said company under the schemes with returns which are due to its investors as per the terms of offer within a period of three month from the date of this order and thereafter, within a period of fifteen days, submit a winding up and repayment report to SEBI in accordance with the SEBI (Collective Investment Schemes) Regulations, 1999, including the trail of funds claimed to be refunded, bank account statements indicating refund to the investors and receipt from the investors acknowledging such refunds. 4. The Company shall provide proof including trail of funds, bank statements to support its contention that it has refunded the monies to such investors. The Company shall also authenticate its claim that it has mobilize money only from 37 investors/customers through verifiable proof like Balance Sheet, audited financial, bank statements etc. 5. Ecogreen Realestate India Limited and its promoters and directors including, , Mr. Anveesh Verma, Mr. Chandra Prakash Verma, Mr. Ajay Kumar and Mr. Ram Samujh Yadav, shall not alienate or dispose off or sell any of the assets of Ecogreen Realestate India Limited except for the purpose of making refunds to its investors as directed above. 6. Ecogreen Realestate India Limited and its promoters and directors including, , Mr. Anveesh Verma, Mr. Chandra Prakash Verma, Mr. Ajay Kumar and Mr. Ram Samujh Yadav are also directed to provide a full inventory of all their bank accounts, demat accounts and holdings of shares/securities, if held in physical form. 7. In the event of failure by Ecogreen Realestate India Limited and its promoters and directors including, Mr. Anveesh Verma, Mr. Chandra Prakash Verma, Mr.Ajay Kumar and Mr. Ram Samujh Yadav, to comply with the above directions, the following actions shall follow : a. Ecogreen Realestate India Limited and its Directors, Mr. Anveesh Verma, Mr. Chandra Prakash Verma, Mr.Ajay Kumar and Mr. Ram Samujh Yadav, shall remain restrained from accessing the securities market and are prohibited from buying, selling or otherwise dealing in securities, even after the period of 4 years of restraint imposed in point (2) above, till all the Collective Investment Schemes of Ecogreen Realestate India Limited are wound up and all the monies mobilized through such schemes are refunded to its investors with returns which are due to them. b. SEBI would make reference to the State Government/ Local Police to register a civil/ criminal case against Ecogreen Realestate India Limited, its promoters, directors and its managers/ persons in-charge of the business and its schemes, for offences of fraud, cheating, criminal breach of trust and misappropriation of public funds; and c. SEBI would make a reference to the Ministry of Corporate Affairs, to initiate the process of winding up of the company, Ecogreen Realestate India Limited. d. SEBI shall also initiate attachment and recovery proceedings under the SEBI Act and rules and regulations framed thereunder. The order shall come into force with immediate effect. The full text of the order is available on SEBI’s website [www.sebi.gov.in ]. Members of the Exchange are advised to take note of the above and ensure compliance. For and on behalf of MCX Stock Exchange Ltd. Prachi Lendhe Sr. Manager ----------------------------------------------- Corporate office ----------------------------------------MCX Stock Exchange Limited - CIN - U65999MH2008PLC185856 4th floor, Vibgyor Towers,Plot No C 62, G Block, Bandra Kurla Complex, Bandra (E), Mumbai – 400098. Tel.: 022 – 61129000, Fax: 022 – 61129009 www.mcx-sx.com email: [email protected]