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Sebi orders Prayag Infotech to refund investors money

According to Sebi, Prayag Infotech had made an offer of Redeemable Preference Shares (RPS) between 2007-2008 and 2011-12 and raised at least Rs 131.37 crore from over 1.57 lakh investors.
Sebi slaps Rs 1 crore fine on Prayag Infotech, 2 directors

The entities failed to provide the requisite information to the investigating authority as sought by it through summons issued in January 2014 and also failed to appear before the authority as required under summons, Sebi said in an order.

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Prayag Infotech

Sebi orders Prayag Infotech to refund investors money

Sebi slaps Rs 1 crore fine on Prayag Infotech, 2 directors