Sebi Cautions Investors Against Sunshine Global

New Delhi: Markets regulator Sebi has cautioned the public against buying and dealing with any property belonging to Sunshine Global Agro and its directors.

The cautionary statement comes after Sebi discovered that some individuals or entities are illegally purchasing, encroaching/trespassing the properties of the company. In response, Sebi, in a notice issued last week, cautioned public against “buying/dealing with any properties wherein the company, and its directors have any interest/rights directly or indirectly.”

The regulator also said that no person is allowed to take illegal possession or trespass with the assets of the company and its directors. Any such unauthorised actions will result in legal consequences under applicable laws. Sebi, in July 2014, prohibited Sunshine Global Agro (formerly known as Sunshine Forestry Private Limited) and its directors from collecting funds from investors as well as from launching any new scheme after finding that the company was mobilising funds under its schemes “sale of Jhatropha Bush Group and sale of plant/trees”.