Sebi bans Rose Valley Real Estate, directors from markets
Regulator Sebi today banned Rose Valley Real Estate & Construction and its five directors from the securities market for four years for raising money from the investors without complying with the public issue norms. A probe by Sebi following a reference from the Corporate Affairs ministry had revealed that Rose Valley Real Estates had come out with seven issues of secured non-convertible debentures (NCDs) from 2001-02 to 2007-08, out of which, in six, the number of allottees was more than 49. Since the securities were issued to more than 49…
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