“Searches are being conducted at 18
places in West Bengal in connection with investigation of case against
Ramel Group. Searches are being conducted at the official and
residential premises of the group and its managing directors and
directors,” a Central Bureau of Investigation official said.
The Ramel group was one of the several
non Saradha Group companies against which the CBI registered cases for
illegally raising public money.
Having found guilty of operating
Collective Investment Schemes (CIS) without obtaining its approval,
market regulator Securities and Exchange Board of India (SEBI) in July
2014 asked Ramel Industries to immediately wind down its scheme that
raised over Rs 97 crore from investors.
Ordering refund of the collected money,
the SEBI also barred Ramel Industries as well as its promoters and
directors from dealing in capital markets till the refund was complete.
Source : IndianMediaBook - Current Affairs
