Capital markets regulator SEBI will auction properties of Arise Bhoomi Developers and its directors on April 1 for a reserve price of Rs 4.8 crore. The move is a part of SEBI’s effort to recover investors’ money. The schemes, as per SEBI, qualified to be a CIS which requires compulsory registration from the regulator. However, the company launched the schemes without obtaining necessary approvals from SEBI.
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