These five entities have also been barred from the securities market with immediate effect and the ban would be in place till the expiry of four years from the date of completion of refunds to the investors.

Moreover, they have been ordered to refund the money along with 15 percent annual interest.

The regulator found that Greentouch Projects had raised Rs 56 crore through non-convertible redeemable debentures to 20,549 persons without complying with public issued norms.

However, the company claimed to have already repaid a sum of over Rs 12.24 crore to its investors.

After completing the repayment, the company will have to file a certificate of such completion with Sebi, within three months, from two independent Chartered Accountants.

Also, the markets watchdog has restrained the company and its directors from the securities markets for four years and the ban would continue 'till the expiry of four years from the date of completion of refunds to investors'.

In case they fails to comply with Sebi's order, the regulator would initiate appropriate action.

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