<p>Markets regulator Sebi has slapped a total fine of Rs 1 crore on Alchemist Infra Realty Ltd and four individuals for illegally mobilising funds from the public through a collective investment scheme.</p>.<p>The individuals who have been fined are Brij Mohan Mahajan, Narayan Madhav kumar, Balvir Singh and Chandra Sekhar Chauhan.</p>.<p>In an order passed on Monday, the watchdog said the company and individuals were engaged in fund mobilising activity from the public, which was in the nature of a Collective Investment Scheme (CIS). They had collected money from investors in the name of developing land.</p>.<p>As per the order, the company had mobilised funds to the tune of Rs 54.1 crore, Rs 449.41 crore and Rs 1,087.68 crore as on March 31, 2009, March 31, 2010 and March 31, 2011 respectively.</p>.<p>Sebi's Adjudicating Officer K Saravanan said the three balance sheet figures on records establish with certainty that the company was carrying out CIS activities atleast in the financial years 2008-09, 2009-10 and 2010-11 while Alchemist was incorporated in the year 2008.</p>.<p>"I note that Alchemist was carrying on unregistered CIS activities at least for three financial years," he added.</p>.<p>The total fine is payable by them jointly or severally.</p>
<p>Markets regulator Sebi has slapped a total fine of Rs 1 crore on Alchemist Infra Realty Ltd and four individuals for illegally mobilising funds from the public through a collective investment scheme.</p>.<p>The individuals who have been fined are Brij Mohan Mahajan, Narayan Madhav kumar, Balvir Singh and Chandra Sekhar Chauhan.</p>.<p>In an order passed on Monday, the watchdog said the company and individuals were engaged in fund mobilising activity from the public, which was in the nature of a Collective Investment Scheme (CIS). They had collected money from investors in the name of developing land.</p>.<p>As per the order, the company had mobilised funds to the tune of Rs 54.1 crore, Rs 449.41 crore and Rs 1,087.68 crore as on March 31, 2009, March 31, 2010 and March 31, 2011 respectively.</p>.<p>Sebi's Adjudicating Officer K Saravanan said the three balance sheet figures on records establish with certainty that the company was carrying out CIS activities atleast in the financial years 2008-09, 2009-10 and 2010-11 while Alchemist was incorporated in the year 2008.</p>.<p>"I note that Alchemist was carrying on unregistered CIS activities at least for three financial years," he added.</p>.<p>The total fine is payable by them jointly or severally.</p>