April 23, 2013 3:53 PM

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SEBI starts fresh probe into fund-raising activities of Saradha group

The Securities and Exchange Board of India, SEBI, has begun a fresh probe into the fund-raising activities of the Kolkata-based Saradha group.The capital market regulator is looking into whether its Collective Investment Scheme (CIS) regulations were violated while raising funds from the public, a senior official said.Sources said that Sebi began the latest round of investigation after certain complaints were received by it against an alleged large-scale fund raising by the group without getting the necessary approvals.The CIS operations are regulated by Sebi and any entity raising funds through this route requires a prior approval from the capital markets regulator.

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