The Securities and Exchange Board of India (SEBI) has issued a cautionary statement to the public, advising against buying or dealing with any properties belonging to Sunshine Global Agro and its directors. This warning comes after SEBI discovered that some individuals or entities were illegally purchasing, encroaching, or trespassing on the company’s properties.
In response, SEBI has made it clear that no person is allowed to take illegal possession or trespass on the assets of Sunshine Global Agro and its directors. Any unauthorized actions will result in legal consequences under applicable laws. SEBI’s actions against Sunshine Global Agro date back to July 2014, when the regulator prohibited the company and its directors from collecting funds from investors or launching any new schemes. This decision was made after SEBI found that the company was mobilizing funds through schemes related to the “sale of Jatropha Bush Group and sale of plant/trees,” which were classified as unauthorized Collective Investment Schemes (CIS).
In February 2019, SEBI directed Sunshine Global Agro and its directors not to dispose of or sell any of the company’s assets, except for the purpose of making refunds to investors.
