Sebi
New Delhi: Markets regulator Sebi on Monday slapped a fine of Rs15 lakh on an individual for illegally mobilising funds from the public through a collective investment scheme in the matter of Alchemist Infra Realty Ltd.
In addition, the regulator asked Balvir Singh (individual) to pay the penalty within 45 days. In the matter related to Alchemist Infra, Sebi initiated adjudication proceedings against Alchemist and its directors, including Singh, for the violation of CIS (Collective Investment Scheme) rules. In February 2021, the markets watchdog passed an order and slapped a fine of Rs 1 crore on Alchemist and its directors, including Balvir Singh, as they were engaged in fund mobilising activity from the public by floating and launching collective investment schemes without obtaining registration from the regulator.
