These cases included deemed public issues and illicit Collective Investment Schemes (CIS). The SEBI has passed close to 200 orders in last one year against illegal fund raising activities and barred individuals and companies from mobilising money from public.

Besides, the capital markets regulator has passed orders for recovery of money from them and been able to collect about Rs 25 crore.

The Securities Laws Amendment Act, which was notified by the government in August 2014, empowers SEBI to pass orders for attachment of properties, arrest of defaulters and to access call data records.

A majority of orders against deemed public issues were in West Bengal, Uttar Pradesh, Madhya Pradesh and Odisha. The same for CIS activities are in Tamil Nadu, Madhya Pradesh, Maharashtra, Uttar Pradesh and West Bengal.

These firms were running CIS without obtaining registration from SEBI and had raked in unauthorised funds promising high returns to investors. A large number of the schemes were also carried out under the garb of real estate business.

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