(a) the number and names of so called plantation
companies which have duped small investors of their money ;
(b) the amount invested by investors in these companies and the number of companies which have disappeared and the amount of money duped by them, company-wise ;
(c) whether the Government is reported to have said
that total investment in plantation companies is worth Rs. 25 thousand crore, whereas the SEBI has put it to only Rs. 2,689 crore ; and
(d) if so, the facts in this regard ?
MINISTR OF STATE IN THE MINISTERY OF FINANCE (SHRI GINGEE N. RAMACHANDRAN)
(a) : The names of 13 Collective Investment Scheme
(CISs) entities against which 500 or more complaints
are pending are at the Annex. As per information filed
by these entities with Securities and Exchange Board
of India (SEBI) earlier, these entities has raised an
amount of Rs. 1517.75 crores from investors.
(b) SEBI has intimated that the data regarding the
amount of money received by the companies is not
readily available.
(c) & (d) : SEBI, vide its Press Release dated November
26, 1997 and its Public Notice dated December 18, 1997
directed existing schemes to file details of the
schemes with it. SEBI had received information from
660 entities which have reportedly raised Rs.2689.86
crores.