Adjudication Order in respect of Anantharaman Nallaperumal in the matter of Wisdom Agro Tech India Limited

Last updated: 12 November 2020

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This adjudication order concerns Anantharaman Nallaperumal in relation to Wisdom Agro Tech India Limited (WATIL). SEBI previously found WATIL to be operating a Collective Investment Scheme without authorisation and issued directions. It is alleged that Mr. Nallaperumal failed to comply with these directions, leading to adjudication proceedings under Section 15HB of the SEBI Act.

Court :
SEBI

Brief :
Vide Interim Order dated December 10, 2014, Whole Time Member of Securities and Exchange Board of India (hereinafter referred to as ‘SEBI’) observed that Wisdom Agro Tech India Ltd. (hereinafter referred to as ‘WATIL’/’Company’) was prima facie engaged in the activity of mob8ilizing funds from public which falls within the ambit of ‘Collective Investment Scheme’ (CIS) as defined in Section 11AA of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as ‘SEBI Act’). Accordingly, certain directions were issued against the WATIL and its directions including Mr. Anantharaman Nallaperumal (hereinafter referred to as ‘Noticee’). The said directions were confirmed vide confirmatory order dated October 20, 2015.

Citation :
(ADJUDICATION ORDER NO: Order/PM/VC/2020-21/9541)

Daily Limit Reached