Archive · 1 Sep 2025
Sebi to Oversee Winding Up of Arihant Mangal Scheme
Imagine a company that collected money from people to invest, but they misused the money.
A special group was supposed to sort things out, but they made bad decisions and didn't follow the rules.
The court stepped in and said the market regulator, like a financial police, will now take over to fix things.
They will look into all the records and make sure the remaining money is distributed fairly to the people who invested.
The goal is to complete this process within a year.
The initial scheme was launched in 1994, but there were issues with where the money was going, causing the need for intervention.
The Delhi High Court dissolved the Special Committee overseeing the Arihant Mangal scheme.
Sebi is now responsible for completing the winding up of the fraud-hit scheme.
A forensic audit of all records will be conducted by Sebi.
The scheme was launched in 1994 by CRB Capital Markets Ltd.
Investigations revealed that funds were diverted to promoters and related entities.
- Who
- Sebi will oversee the winding up of the Arihant Mangal (Growth) Scheme.
- What
- The Delhi High Court has directed Sebi to take charge of the winding up of the fraud-hit Arihant Mangal (Growth) Scheme.
- When
- The Delhi High Court issued the order on Monday.
- Where
- The scheme was launched by CRB Capital Markets Ltd in India.
- Why
- The Special Committee formed in 2013 failed to properly discharge its duties and unlawfully disbursed funds.
- Scheme Name
- Arihant Mangal (Growth) Scheme
- Launched By
- CRB Capital Markets Ltd
- Launch Date
- 1994
- Investors
- 19,396
- Funds Collected
- ₹229.28 crore
- Court
- Delhi High Court