S.RAMAN - (1.) SECURITIES and Exchange Board of India (hereinafter referred to as "SEBI") received a complaint on June 09, 2014, wherein it was alleged that Popular Agro Farms Pvt. Ltd. (hereinafter referred to as "Popular Agro/the company") failed to refund the amount invested by the complainant in one of the schemes. The complainant also furnished the following documents:
(2.) bull; Copy of an advertisement issued by Popular Agro, regarding the schemes offered by them, • Copy of proof of payment made by the complainant, • Letter of acknowledgement issued by the company to the complainant, • Copy of the "Teak tree Certificate" issued by the company." As part of the inquiry, SEBI, vide letter dated November 06, 2014 inter alia sought details of the various schemes operated by the company. In addition, Popular Agro was also asked to furnish the following documents: "• Amount collected - investor -wise, year -wise, and scheme -wise, • Amount refunded, • Brochures/pamphlets circulated by the company, • Audited financial statements for last three years." 2.1 SEBI also sent separate letters to the Directors of the company seeking the aforesaid information/documents. The said letters were, however returned with the remarks "Left"/"No such Addressee".
(3.) SUBSEQUENT to this, SEBI, vide letter dated November 14, 2014, referred the aforesaid complaint to Registrar of Companies, Chennai, Reserve Bank of India, Chennai and Chief Secretary to Government of Tamil Nadu, to initiate action in respect of the issues falling under their jurisdictions, if any.;