w w w . L a w y e r S e r v i c e s . i n



Santhimadam Plantations & Agro Products Ltd., v/s Securities & Exchange Board of India & Ors.


Company & Directors' Information:- G H AGRO PRODUCTS PRIVATE LIMITED [Active] CIN = U15143PB1996PTC018159

Company & Directors' Information:- N D R PLANTATIONS PRIVATE LIMITED [Active] CIN = U01133TN1989PTC017914

Company & Directors' Information:- S A AGRO PRODUCTS PRIVATE LIMITED [Active] CIN = U01403WB2013PTC195653

Company & Directors' Information:- M K PLANTATIONS PRIVATE LIMITED [Active] CIN = U01134DL1997PTC085594

Company & Directors' Information:- B. D. AGRO PRODUCTS PRIVATE LIMITED [Active] CIN = U01400WB2009PTC136319

Company & Directors' Information:- D A P AGRO PRODUCTS PRIVATE LIMITED [Active] CIN = U01403WB2011PTC157956

Company & Directors' Information:- B. K. AGRO PRODUCTS PRIVATE LIMITED [Active] CIN = U70101WB1990PTC049682

Company & Directors' Information:- S V M A AGRO PRODUCTS PRIVATE LIMITED [Active] CIN = U15142TZ2003PTC010834

Company & Directors' Information:- K E AGRO PRODUCTS PRIVATE LIMITED [Active] CIN = U15314KL2002PTC015782

Company & Directors' Information:- AGRO (INDIA) PRODUCTS PRIVATE LIMITED [Active] CIN = U01500DL2013PTC250521

Company & Directors' Information:- J B J PLANTATIONS PRIVATE LIMITED [Active] CIN = U01132KL1996PTC010205

Company & Directors' Information:- W B AGRO PRODUCTS PRIVATE LIMITED [Active] CIN = U15400KA2014PTC073123

Company & Directors' Information:- K M PLANTATIONS PRIVATE LIMITED [Active] CIN = U45202UP1986PTC007992

Company & Directors' Information:- D M AGRO PRODUCTS PRIVATE LIMITED [Active] CIN = U74899DL1995PTC066893

Company & Directors' Information:- D N AGRO PRODUCTS PRIVATE LIMITED [Active] CIN = U15314UR2005PTC032824

Company & Directors' Information:- N K AGRO PRODUCTS PRIVATE LIMITED [Active] CIN = U15490PB2010PTC034534

Company & Directors' Information:- THE INDIA COMPANY PRIVATE LIMITED [Active] CIN = U74999TN1919PTC000911

Company & Directors' Information:- M S P PLANTATIONS PRIVATE LIMITED [Active] CIN = U01132KA1981PTC004549

Company & Directors' Information:- INDIA AGRO PRODUCTS PRIVATE LIMITED [Active] CIN = U01300TZ1991PTC003161

Company & Directors' Information:- S B R AGRO PRODUCTS PRIVATE LIMITED [Active] CIN = U01120TN2008PTC070170

Company & Directors' Information:- A K V PLANTATIONS INDIA PRIVATE LIMITED [Active] CIN = U01119KL1995PTC009624

Company & Directors' Information:- S G S PLANTATIONS PRIVATE LIMITED [Active] CIN = U01122DL1996PTC079407

Company & Directors' Information:- B S AGRO PRODUCTS PRIVATE LIMITED [Strike Off] CIN = U29246WB1995PTC073119

Company & Directors' Information:- S C P AGRO PRODUCTS PRIVATE LIMITED [Active] CIN = U15400WB2010PTC154344

Company & Directors' Information:- R D PLANTATIONS PRIVATE LIMITED [Active] CIN = U01132WB1997PTC086199

Company & Directors' Information:- C K PLANTATIONS PVT LTD [Strike Off] CIN = U60210AS1998PTC005449

Company & Directors' Information:- B B AGRO PRODUCTS PRIVATE LIMITED [Strike Off] CIN = U01111WB1999PTC089962

Company & Directors' Information:- S K PLANTATIONS PVT LTD [Active] CIN = U01131WB1988PTC044222

Company & Directors' Information:- B. R. AGRO PRODUCTS PRIVATE LIMITED [Active] CIN = U74999MP2020PTC052151

Company & Directors' Information:- J. M AGRO PRODUCTS PRIVATE LIMITED [Active] CIN = U01122UP2007PTC032828

Company & Directors' Information:- INDIA CORPORATION PRIVATE LIMITED [Active] CIN = U65990MH1941PTC003461

Company & Directors' Information:- J D PLANTATIONS LIMITED [Strike Off] CIN = U01122DL1996PLC078056

Company & Directors' Information:- P M AGRO PRODUCTS PRIVATE LIMITED [Active] CIN = U01100MP2010PTC023037

Company & Directors' Information:- M. C. AGRO PRODUCTS PRIVATE LIMITED [Strike Off] CIN = U74990WB2009PTC135219

Company & Directors' Information:- B G AGRO BOARD PVT LTD [Strike Off] CIN = U15499WB1990PTC050007

Company & Directors' Information:- P G AGRO PRODUCTS PRIVATE LIMITED [Strike Off] CIN = U01403WB2009PTC139377

Company & Directors' Information:- S. A. PLANTATIONS PRIVATE LIMITED [Active] CIN = U01132AS2012PTC011215

Company & Directors' Information:- L. M. AGRO PRODUCTS PRIVATE LIMITED [Active] CIN = U15139DL2010PTC207504

Company & Directors' Information:- C K AGRO PRODUCTS PRIVATE LIMITED [Active] CIN = U01403AP2016PTC098332

Company & Directors' Information:- R J AGRO PRODUCTS INDIA PRIVATE LIMITED [Strike Off] CIN = U15311KA2005PTC036080

Company & Directors' Information:- T & I PLANTATIONS LTD. [Strike Off] CIN = L15491WB1994PLC062095

Company & Directors' Information:- AGRO PRODUCTS PVT LTD [Strike Off] CIN = U01131OR1983PTC001188

Company & Directors' Information:- J AND J PLANTATIONS PVT LTD [Active] CIN = U01119KL1993PTC007241

Company & Directors' Information:- R L R AGRO PRODUCTS PRIVATE LIMITED [Strike Off] CIN = U01403TG2012PTC082514

Company & Directors' Information:- N. H. PLANTATIONS PRIVATE LIMITED [Active] CIN = U01132TZ2011PTC016781

Company & Directors' Information:- J K PLANTATIONS PRIVATE LIMITED [Strike Off] CIN = U01132AS1983PTC002094

Company & Directors' Information:- A & P PLANTATIONS PRIVATE LIMITED [Active] CIN = U01116KL2008PTC023448

Company & Directors' Information:- V S PLANTATIONS PRIVATE LIMITED [Strike Off] CIN = U01300KL2005PTC018037

Company & Directors' Information:- S N A PLANTATIONS LIMITED [Strike Off] CIN = U20219UP1998PLC023103

Company & Directors' Information:- V. S. S. AGRO PLANTATIONS LTD. [Strike Off] CIN = U99999UP1995PLC018597

Company & Directors' Information:- R P V AGRO PRODUCTS PRIVATE LIMITED [Strike Off] CIN = U01300TZ1997PTC008071

Company & Directors' Information:- M C PLANTATIONS PRIVATE LIMITED [Active] CIN = U01117DL1996PTC077438

Company & Directors' Information:- K V J PLANTATIONS PRIVATE LIMITED [Active] CIN = U02000KL2012PTC032312

Company & Directors' Information:- A V S AGRO-PRODUCTS COMPANY LIMITED [Dissolved] CIN = U74899DL1995PLC070790

Company & Directors' Information:- M R AGRO PRODUCTS PRIVATE LIMITED [Active] CIN = U01400MH2012PTC226708

Company & Directors' Information:- R A PLANTATIONS PRIVATE LIMITED [Active] CIN = U74899DL1995PTC072139

Company & Directors' Information:- B. U. AGRO-PRODUCTS PRIVATE LIMITED [Active] CIN = U01100GJ2018PTC101009

Company & Directors' Information:- J N PLANTATIONS PRIVATE LIMITED [Active] CIN = U01100KL2011PTC028335

Company & Directors' Information:- J G PLANTATIONS PRIVATE LIMITED [Strike Off] CIN = U02001KL2008PTC022432

Company & Directors' Information:- A K S PLANTATIONS PRIVATE LIMITED [Strike Off] CIN = U01116KL2006PTC019487

    Appeal No.52/2003

    Decided On, 25 October 2005

    At, SEBI Securities Exchange Board of India Securities Appellate Tribunal

    By, CORAM: JUSTICE KUMAR RAJARATNAM
    By, PRESIDING OFFICER
    By, C. BHATTACHARYA
    By, MEMBER
    By, R. N. BHARDWAJ
    By, MEMBER

    Appellant – Represented by Mr. Sounder Rajan, Advocate. Respondent – Represented by Mr. Subhash Jha, Advocate.



Judgment Text

Per: Justice Kumar Rajaratnam, Presiding Officer.


1. The appeal is taken up for final disposal with the consent of both parties.


2. The appellant challenges the order passed by the Respondent on 2/7/2001 debarring the appellant from accessing the securities market for a period of 5 years. The impugned order refers to the appellant’s failure to comply with the directions issued by the Respondent on 7/12/2000 under Section 11B of the Securities and Exchange Board of India Act, 1992 read with Regulation 65 and 73 of the SEBI (Collective Investment Scheme) Regulations, 1999 to wind up the appellant’s existing Collective Investment Schemes and make payments in accordance with the provisions of SEBI (Collective Investment Scheme) Regulations. 1999.


3. Shri Sounder Rajan, learned senior counsel for the appellant has filed an affidavit explaining that the transactions entered into by the appellant were on the basis of sale deeds with respect to pieces of land and the land was divested to the purchasers and the investors are in total possession of the lands that are sold to them. However, certain small amounts were collected from each of the investors as cultivation charges. It is also submitted that the appellants have stopped doing this business and have repaid all the investors of the amount that was collected as cultivation charges. An affidavit dated 19/3/2005 was also filed to show that moneys have been refunded to all the investors even with respect to the cultivation charges. The affidavit dated 19/3/2005 has been placed before us which shall form part and parcel of the record of this court.


4. In view of the fact that the cultivation charges have been repaid, according to the appellant which is in the form of an affidavit, there is no further use in keeping this appeal pending before us. It is for the Respondent to verify the contents of the affidavit, if they so desire.


5. We however, direct the appellant not to access the securities market for a period of 5 years as per the impugned order. In that view of the matter, the earlier order dated 7/12/2000 is set aside and any observation in the impugned order with respect to repayment is also set aside. The impugned order is also set side except that the appellant shall not access the securities market for a period of 5 years.


6. This however, will not preclude SEBI from taking fresh action in accordance with law, if there are any investors complaints.


7. It is submitted by Shri Subhash Jha, learned senior counsel for the Respondent that there is a short fall of Rs.1 lakh owing to the invest

Please Login To View The Full Judgment!

ors even with respect to cultivation charges. 8. Shri Sounder Rajan, counsel for the appellant undertakes to make good this short fall if pointed out and distribute it to the investors. Appeal is disposed of accordingly. No order as to costs.
O R