Mathura-based Kalpataru group\'s two companies were barred by SEBI for raising money illegally from investors. Yet, the group has floated another similarly named company and is collecting money under its real estate scheme
Moneylife Digital Team
Uttar Pradesh-based Kalptaru group is again collecting money from investors through its real estate schemes using a new company. Last year, market regulator Securities and Exchange Board of India (SEBI), barred KBCL India Ltd, a unit of Kalpataru group, and its directors from raising money and directed them not to launch any new scheme. However, according to sources, the group is collecting money using its another unit,
Kalptaru Buildtech Corp Ltd (KBCL) in Uttar Pradesh and Rajasthan by promising huge returns upon investing in a plot of land.