32 companies in illegal real estate investment schemes: Govt

NEW DELHI: At least 32 companies have been found by capital market regulator Sebi to be operating unauthorised money-pooling schemes in the garb of real-estate business.

These account for more than half of the total 59 companies that have faced Sebi action for running unregistered Collective Investment Schemes (CIS).

The capital market regulator had received 302 complaints against these 32 real estate companies and has passed orders against them for running CIS without registration..

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