Capital market regulator SEBI has directed immediate winding up of unauthorised dairy investment scheme run by G N Dairies and has asked the company to refund investors’ money within three months. Besides, G N Dairies and its three directors have also been barred by SEBI from accessing the securities market till the time all collective investment schemes launched by the firm are wound up and the money refunded to the investors. Securities and Exchange Board of India (SEBI) found that G N Dairies was seeking funds from public on promise of high returns in the name of trading of cattle and ghee, without obtaining requisite certificate from the market regulator.
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