The GreenWood Ltd. had launched a scheme named as Malamal scheme. The scheme entailed a one-time payment of ₹10,000 in lieu of a unit of 10 Teakwood trees with a holding period of 20 years and on maturity, the contributo

The SEBI may, in the interests of the securities market and the investors, give such directions as it deems fit in order to ensure effective observance of these regulations, including directions: (a) requiring the person concerned not to collect any money from investors or to launch any collective investment scheme; (b) prohibiting the person concerned from disposing of any of the properties of the collective investment scheme acquired in violation of these regulations; (c) requiring the person concerned to dispose of the assets of the collective investment scheme in a manner as may be specified in the directions; (d) requiring the person concerned to refund any money or the assets to the concerned investors along with the requisite interest or otherwise, collected under the collective investment scheme; (e) prohibiting the person concerned from operating in the capital market or from accessing the capital market for a specified period. The SEBI has issued directions pursuant to the aforesaid regulations in the matter of Dairyland Plantations (India) Limited. Further, as per Section 15D of the SEBI Act, 1992, if any person, who is required under SEBI Act or any rules or regulations made thereunder to obtain a certificate of registration from the SEBI for sponsoring or carrying on any collective investment scheme, sponsors or carries on any collective investment scheme, without obtaining such certificate of registration, he shall be liable to a penalty which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which he sponsors or carries on any such collective investment scheme subject to a maximum of one crore rupees.