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MPS Greenery Developers Ltd - CHEAT OF MONEY

 
89 Reviews
User
  Somnath Dutta
Dear Sir
This is to inform you that i had five Orchard Bonds ( Rs 20000.00each) of MPS Greenery ltd, Due to my sister mirage I was withdraw the amount after thirteen month later of deposit. But the time of premature they deduct 32700.00 rupees as Agent commission ( I was paid the amount helplessly ), Which was not in terms and condition. I submit my complain in SEBI ( Date 28/03/2008, 22/08/2008, 6/10/2009 ) and Lake town Police Station (date 15/02/2008 ) but getting no result. Hope you will help me. Please let me know how I get my money back with interest and compensation. Presently I pay very high interest against the amount.

Thanking you
Somnath Dutta


Complaint comments 88 Comments     Updated:
Resolve this Complaint  

Comments

D May 10, 2012 by
User
j b saha  
 
There are several complaints about mps & her chairman on different matters related to personal issues and a general misunderstanding about mps Greenery Developers Ltd. To all those people- I can simply say that I have personally visited mps project at Dighisole, Jhargram and I am fully satisfied with the work of mps.I have listened to the Chairman's deliberation and also other senior Executives which are encouraging to the youth of west Bengal.I have no doubt in my mind about mps Greenery Developers Ltd's capability and future progress in the field of developing barren lands and converting those lands into fertile land through organic methods with out the use of chemical fertiliser.This type of work is very challenging and it requires to cross lot of hardles coming in the way.And Mr.P.N. MANNA has taken those challenges in his stride and developed mps into a world class greenery for which mps has got recognition from national & international organisations.I expect mps to grow further. JAGAT BANDHU SAHA .D/5, DAKSHINEE HOUSING ESTATE, KOLKATA-700 018.
N May 15, 2012 by
User
Biswajit Das 123  
 
@Pritam -
So, you think investing in MPS is more secured than banks!!! Wow!!! That's a huge demand :)
"IN A BANK THERE IS A INSURANCE AGAINST PER ACCCOUNT UPTO 1 LAK" - This is the liability of RBI. Do you have any such assurance (even for Rs. 10) from RBI? You can't compare banks with MPS.
It's really strange that though you have all the justifications and documents (as per you), SEBI and ICRA are not considering you as a secured place to invest. This is really sad. Do you have any idea why everybody is trying to pull your legs?
ICRA's current rating for your organization is CS 4, reflecting inadequate grade. Schemes rated CS 4 are considered to have inadequate probability of achieving indicated returns. Why you are not showing your company's balance sheet and assets to them? They are the better persons to assess them and give you a better rating which will help you in building confidence of the investors.
A May 15, 2012 by
User
ayess  
 
SEBI has vide it's Order directed the company to depost the entire amount of more than 1000cr. to be deposited in to the nationalised bank with in 15 days.
N May 15, 2012 by
User
Biswajit Das 123  
 
Ah!! That's the latest news (14th May) - "Sebi today barred MPS Greenery Developers from raising any money from investors or float a fund-raising scheme till it deposited a sum of Rs 1, 169.39 crore in an escrow account with a nationalised bank. The firm has also been barred from disposing of any properties and other assets it may have acquired using funds raised through these collective investment schemes.
In August 2009, Sebi had directed MPS Greenery to transfer properties and assets created out of the funds raised to a trust in order to protect the interests of the investors in the scheme.The firm failed to fulfil the condition after which its provisional registration with the market regulator was cancelled."
As per SEBI - "MPS should deposit the amount of Rs. 1, 169.39 crore, which it has raised through its collective investment schemes, without obtaining Certificate of Registration and in contravention of the conditions imposed under the provisional registration granted by SEBI in August 2009."
@Mr. Pritam - This is not fair from SEBI. Why they are continuously hampering your organization's growth through CIS? What do you think?
N May 15, 2012 by
User
Biswajit Das 123  
 
On a second thought, I believe Sebi has taken this step as they have heard Mr Pritam's grievance - "If Sebi is right MPS is wrong then why sebi do not take any step??" :)
N May 18, 2012 by
User
Biswajit Das 123  
 
Keep waiting until you get the permission from SEBI for raising funds again :)
N May 22, 2012 by
User
halifshah  
 
who ever is investor check out with all necessary doc..Today we are living in the world that is very hard to believe.
SEBI...SEBI...SEBI...Name does matter but read all: http://www.watchoutinvestors.com/Press_Release/sebi/2012055.ASP?cntrl_no=CIS0716
http://www.watchoutinvestors.com/whatsneword_rslt.asp?type=C

PRESS RELEASE - SEBI

May 14, 2012
PR No. 055/2012


MPS Greenery Developers Ltd. prohibited from collecting money from investors for Collective
Investment Schemes

SEBI has passed an order on May 11, 2012, in the matter of MPS Greenery Developers Limited (MPS) whereby it is:

i. directed not to collect any money from investors or to launch any scheme

ii. directed not to dispose of the properties of the scheme acquired in violation of the provisions of Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999

iii. prohibited from operating in the capital market and from accessing the capital market till such time MPS Greenery Developers Limited deposits the amount of Rs.1169.39 crore in an Escrow account with a nationalized bank.

MPS, having its registered office at "MPS Enclave", Commercial Building, Vill Dighisole P.O - Dahijuri, PS - Binpur, Jhargram, West Midnapore, West Bengal -721504 was granted ‘Provisional Registration’ as a Collective Investment Management Company on August 21, 2009 in accordance with the SEBI (Collective Investment Schemes) Regulations, 1999 which expired on August 20, 2011. This provisional registration was granted subject to
certain conditions which included restrictions on launching any new scheme or on raising fresh money from the investors; even under the existing schemes, unless a certificate of registration is granted to them by SEBI.

However, MPS not only failed to fulfill the conditions of Provisional Registration, it also raised money from the public in violation of the conditions of provisional registration and it appears to be still mobilizing money from public. As per information provided by ICRA Limited, the total outstanding balance of funds with the company stood at around Rs.1169.39 crores as on January 25, 2011. Moreover, MPS had issued a newspaper advertorial which wrongly stated that the company is allowed to carry out Collective Investment Scheme activities.

While the aforesaid directions take effect as on the date of the order, the company may make its submissions, if any, within fifteen days from the date of receipt of the order.


Mumbai

May 14, 2012




Page 1 of 13
WTM/PS/37/CIS/ERO/MAY/2012
SECURITIES AND EXCHANGE BOARD OF INDIA
ORDER
DIRECTIONS UNDER SECTIONS 11(4) AND 11B OF THE SECURITIES AND
EXCHANGE BOARD OF INDIA ACT, 1992 READ WITH REGULATIONS 65
AND 73 OF THE SECURITIES AND EXCHANGE BOARD OF INDIA
(COLLECTIVE INVESTMENT SCHEMES) REGULATIONS, 1999 AGAINST
MPS GREENERY DEVELOPERS LIMITED.
1. Securities and Exchange Board of India (hereinafter referred to as “SEBI”)
received an application dated March 10, 2000 from MPS Greenery Developers
Limited (for short “MPS”) for grant of certificate of registration under the
Securities and Exchange Board of India (Collective Investment Schemes)
Regulations, 1999 (for short “CIS Regulations”).
2. The aforesaid application was considered and Chairman, SEBI who passed an
Order dated September 3, 2002 wherein he inter-alia directed as under,
directing as under:
“……….. Having regard to the above, I am of the considerate view that the
company has raised the money in violation of SEBI Circular dated 24.02.98
and Hon’ble Delhi High Court’s order dated. 7.10.98 whereby all the
plantation companies including the company herein were directed to strictly
comply with the circular of SEBI dated 24.02.98. The raising of money by
the company without grant of registration by SEBI is also in violation of
Page 2 of 13
Regulation 69 of the SEBI (Collective Investment Scheme) Regulations,
1999, which prohibits raising money by a CIS even under the existing
scheme, unless a certificate of registration is granted to by SEBI.
Further, in light of the SEBI Inspection Report, the company has failed to
satisfy me that the affairs of the company are not being conducted in a
manner detrimental to the interest of the investors in terms of Regulation
70 (1) (b) of the aforesaid Regulations.
In view of the aforesaid as company has not shown any compliance and
respect to the legal requirements and the directions of the Hon’ble Delhi
High Court by illegally continuing to raise the money as aforesaid and still
has failed to refund the money to the investors, in spite of being given
number of opportunities. This gives me the reason to believe that the
affairs of the company are being conducted in a manner which is
detrimental to the interest of investors and therefore I hereby reject the
application of the company for the grant of registration.
Therefore, as an existing Collective Investment Scheme, in terms of
Regulation 73 of the captioned Regulations, the company is required to
wind up its existing schemes and make repayments to the investors.
Accordingly, the company is required to send an information Memorandum
to the investors, who have subscribed to the scheme(s) within two months
from the date of receipt of this intimation in terms of Regulation 73 (2) from
SEBI.
Further, on completion of the winding up and repayment to the investors in
terms of Regulation 73, the company is required to file a detailed Winding
Page 3 of 13
up and Repayment report in the SEBI prescribed format (copy enclosed) so
as to reach SEBI within three and half months of the date of the Information
Memorandum. Please note that a part of the report as at “Annexure A” is to
be maintained by the company for a minimum period of 5 years from the
date of the Information Memorandum and therefore should not be sent to
SEBI.”
3. Thereafter, MPS had filed a Writ Petition no. 1971/2002 before the Hon’ble
High Court at Calcutta, challenging SEBI order dated September 03, 2002, in
which the High Court at Calcutta vide its interim order dated September 24,
2002 directed that “Pending hearing of this petition parties are directed to
maintain status quo as on date in respect of the affairs and functioning of the
petitioner company.” SEBI has filed a contempt petition bearing CC 29/2007
on January 31, 2007 against the company for continuing to raise funds from
the schemes in violation of the status quo order of the High Court at Calcutta
dated September 24, 2002. Pending this contempt petition, the Writ Petition
no. 1971/2002 before the Hon’ble High Court at Calcutta was disposed off,
vide order dated June 25, 2009, holding, inter-alia as under:
“…….Since the propriety of the order has not been gone into, the writ
petitioners are permitted to furnish their best documents to SEBI within a
period of four weeks from date for SEBI to reconsider the matter and revisit
the issue as to whether the registration as sought by the petitioner
company can be granted. The petitioners would be required to satisfy SEBI
that the deposits obtained by the petitioners till date are secured and
protected and that such funds have been deployed reasonably and keeping
the interests of the depositors in mind.
Page 4 of 13
If further material as aforesaid is furnished by the petitioners to SEBI within
a period of four weeks from date, SEBI will reconsider the matter by giving
an opportunity of hearing to the petitioner company and pass a reasoned
order within a period of four weeks from the date of deposit of the
documents. It is made clear that if within the time permitted to the petitioner
all materials are not deposited, SEBI will be entitled to proceed only on the
basis of the materials received till the deadline and pass a reasoned order
in accordance with law.
W.P. No. 1971 of 2002 is disposed of on the above basis without any order
as to costs.
The interim order of September 24, 2002 stands vacated. The embargo
imposed on the company by SEBI’s order of September 3, 2001 will
remain in force till SEBI reconsiders the matter……” (emphasis added)
4. MPS, thereafter preferred an Appeal No. 194 of 2009 before Division Bench of
the Hon’ble High Court at Calcutta against the aforesaid Order dated June 25,
2009 in Writ Petition No.1971 of 2002.
5. The said Appeal No. 194 of 2009 was dismissed as not pressed on August 26,
2009 since the appellants did not wish to proceed with the Appeal.
6. Thereafter, pursuant to an application made by MPS, a provisional registration
certificate was granted by SEBI on August 21, 2009, under the provision of
Page 5 of 13
Regulation 70(1) read with Regulation 71(1) of SEBI (Collective Investment
Schemes) Regulations, 1999 and were instructed not to launch any new
scheme or raise money from the investors even under the existing scheme,
unless a certificate of registration is granted by the Board under Regulation 10.
7. Further, the provisional registration was granted subject to the following
conditions, as specified in Regulation 71 of the CIS Regulations shall be
complied by MPS within 2 years from the date of grant of provisional
registration:
a) that the existing scheme(s) are to be rated by a credit rating
agency;
b) that the existing scheme(s) be audited by an auditor;
c) that the existing scheme(s) be appraised by an appraising agency;
d) that MPS shall create a trust and appoint trustees in the manner
specified in Chapter IV of the captioned Regulations in respect of
the assets;
e) that MPS shall comply with accounting and valuation norms, in
respect of existing scheme(s), as specified in Part-II of the Ninth
Schedule to the captioned Regulations;
f) that MPS shall meet the minimum net worth of Rupees one crore
within one year from the date of grant of provisional registration
which shall be increased by Rupees one crore each within two
Page 6 of 13
years, three years, four years and five years from the date of grant
of provisional registration;
g) that MPS shall not dispose off the scheme property except for
meeting obligations arising under the offer document of the
scheme.
h) that MPS shall comply with the conditions specified in Regulation
11 of the SEBI (CIS) Regulations, 1999; that MPS shall forthwith
inform the Board of any material change in the information or
particulars previously furnished which have a bearing on the
provisional registration granted.
i). that MPS shall comply with the Code of Conduct as also other
instructions and other operational guidelines / directions /
instructions etc. as may be issued by SEBI from time to time in the
interest of investors.
j). that MPS shall maintain the books of accounts and documents as
specified in Regulation 40 and such other documents as may be
required by the Board under the said Regulation from time to time
and shall preserve the same for the minimum period as specified
in the Regulations.
k) that MPS shall abide by the SEBI (Collective Investment Schemes)
Regulations, 1999 as amended from time to time in respect of the
activities carried on.
Page 7 of 13
8. MPS had failed to transfer the properties and assets in favour of the trust so
created as required by SEBI’s letter dated August 21, 2009. The transfer of
property and assets in favour of the trust is essential to ensure the protection
of the interest of the investors who had invested in the various schemes of
MPS. Since MPS has failed to fulfill the conditions laid down for provisional
registration by SEBI, the provisional registration stands expired on August 20,
2011.
9. Meanwhile, MPS had issued a letter dated January 15, 2009 and on various
other dates thereafter, addressed to its agents, interalia asking them to refrain
from collecting any money on behalf of the company. A few persons claiming
to be marketing agents/ development executives of the company filed suits at
different civil courts in West Bengal against MPS for granting injunction against
the said letters of MPS so that the agents could continue mobilization of
money from the investors. It appears that the injunctions were used to
circumvent SEBI restrictions and to collect further money. One such suit TS
02/2009 in Civil Court (Junior Division) Garbetta, was filed by none other than
two directors of the company which shows the collusive nature of the Civil
Suits. Upon dismissal of such suit in favour of SEBI, an appeal was also filed
by the same directors of the company. Registrar of Companies, Kolkata vide
letter dated November 15, 2010 informed SEBI about filing of some of these
suits where SEBI was not a party. SEBI thereafter filed impleading applications
where it was not a party and all courts except one, where the matter is pending
for hearing, have vacated the injunctions. However, it is a civil dispute between
MPS and its marketing agents/development executives and there is no
Page 8 of 13
prohibition for SEBI from passing appropriate directions in accordance with its
regulations read with the SEBI Act, 1992.
10. MPS, vide their letter dated February 17, 2011, submitted that it had raised
`439 crores between August 21, 2009 (ie the date of grant of provisional
Registration) and January 31, 2011, . Hence, it is evident that MPS has been
raising money from the public despite the prohibition contained in the
Provisional Registration letter from SEBI from launching any new scheme or
raising money from the investors even under the existing scheme(s),
11. Further, in complete disregard of the SEBI directions vide the provisional
registration letter and the High Court order dated June 25, 2009, MPS had
published a newspaper advertisement in Business Standard, Kolkata edition,
dated March 30, 2012 wherein the Managing Director of MPS has wrongly
quoted the Order dated June 25, 2009 passed by the Hon'ble High Court at
Calcutta and stated that the Hon’ble High Court has permitted them to
continue its business. The following is extracted from the said newspaper
advertorial:
“……so on one hand the provisional registration provided by SEBI is
valid and as we MPS Group has the verdict of the Hon’ble Calcutta
High Court to continue their business on an interim basis on the
other hand. In regard to this Mr. Manna of MPS Group stated that
despite the legal battle with SEBI, SEBI has never issued any
Page 9 of 13
statement derogating MPS Greenery Developers Limited and
neither have they imposed any ban on the activities of the company.
On the other hand discussions with SEBI are on regarding
permanent registration of the company in SEBI ranks……”
“…..to develop the said projects investment of 30, 000 crores of
rupees will be required, 80% of which will be raised through
collective investment schemes……”
“…..At present there are 14 lakh of investors, 1 lakh 25 thousand
marketing members, 4 thousand direct and indirect laborers and
more than 6 thousand workers and officers associated with MPS
Group….”
The company vide this advertorial has stated that it is allowed to raise money
from public and hence this clearly shows the intention of the company to raise
further money. Hence, the advertorial hides the fact that the company is not
allowed to raise money as per the conditions of provisional registration by
SEBI.
12. Further, ICRA Limited has stated that as per the audited results of MPS, the
company had raised funds as under.
March 31, 2010 –`457.27 crores
Page 10 of 13
March 31, 2011 – ` 837.33 crores
As per the information furnished by MPS to ICRA Limited, the total outstanding
balance as on January 25, 2012 is `1169.39 crores.
Hence, it is evident that the company has been collecting money from the
public even though it was prohibited to raise any money in any new or existing
schemes.
13. Continuous collection of funds in such opaque schemes of MPS is in breach of
terms of the provisional registration, wherein it was specifically prohibited from
launching any new scheme or raising money from the investors even under
the existing scheme, unless a certificate of registration is granted by the Board
under Regulation 10 of SEBI (CIS) Regulations, 1999. Once an existing
collective investment scheme, after obtaining provisional registration, fails to
comply with the conditions of such registration, it has no other option but to
wind up the existing schemes. In the present matter, MPS had not only failed
to comply with the conditions but also violated the specific mandate of SEBI
not to raise any further funds. MPS, prima facie is continuing the business of
collective investment schemes and raising funds from the public in blatant
violation of the regulations framed by SEBI which is not in public interest and
may have disastrous consequences on the general public at large. SEBI
cannot remain silent spectator while certain activities jeopardizing the integrity
of the securities market continue with impunity. As a regulator, it is the duty of
SEBI to protect the interest of investors by such measures as it thinks fit.
Page 11 of 13
14. In view of the above, I am of the view that there is an imminent threat to the
safety of the huge public funds raised by MPS in disregard to SEBI’s letter
dated August 21, 2009. The Hon’ble High Court at Calcutta, vide order dated
June 25, 2009 inter alia directed SEBI to reconsider the matter by giving an
opportunity of hearing to MPS and to pass a reasoned order within a period of
four weeks, as stated therein. Accordingly, SEBI had granted provisional
registration to MPS with certain conditions as stated above in this order.
Therefore, any violation of such conditions by MPS is in violation of the
aforesaid Regulations and would also in all probability tantamount to
contravening the order of the Hon’ble High Court. Therefore, I find that,
irreparable damage would be caused to the interest of the investors and the
securities market, if MPS continues with its activities and urgent steps are not
taken to preserve and protect the subject matter i.e. capital raised through the
public.
15. Therefore now, in exercise of the powers conferred upon me under Section
11B & 11(4) of the Securities and Exchange Board of India Act, 1992 read
with Regulations 65 and 73 of the Securities and Exchange Board of India
(Collective Investment Schemes) Regulations, 1999, I hereby direct MPS
Greenery Developers Limited to deposit with a nationalized bank in an
interest bearing Escrow Account, an amount of `1169.39 crores, which it has
raised through its collective investment schemes, without obtaining certificate
of Registration and in contravention of the conditions imposed by Securities
and Exchange Board of India while granting provisional registration dated
Page 12 of 13
August 21, 2009 and the aforesaid Regulations and also in violation of the
Hon’ble High Court at Calcutta order dated June 25, 2009, within 15 days of
this Order .
16. MPS Greenery Developers Limited is further:-
i. directed not to collect any money from investors or to launch any
scheme
ii. directed not to dispose of the properties of the scheme acquired in
violation of the provisions of Securities and Exchange Board of India
(Collective Investment Schemes) Regulations, 1999
iii. prohibited from operating in the capital market and from accessing
the capital market
till such time MPS Greenery Developers Limited deposit the
amount as ordered above in paragraph 13.
17. This order may be treated as a show cause notice and MPS Greenery
Developers Limited may make its submissions, if any, against the same and
also to show cause as to why an order for winding up of the schemes of MPS
should not be issued under Regulation 73 of the SEBI (CIS) Regulations,
1999. The submissions, if any, shall be furnished within fifteen days from the
date of receipt of this order and MPS may indicate whether it would wish to
avail of personal hearing.
Page 13 of 13
18. This order is without prejudice to any other action that may be initiated against
MPS Greenery Developers Limited in accordance with law.
19. The order shall come into force with immediate effect.
PRASHANT SARAN
WHOLE TIME MEMBER
SECURITIES AND EXCHANGE BOARD OF INDIA
DATE: MAY 11, 2012.
PLACE: MUMBAI


N May 23, 2012 by
User
halifshah  
 
Pritam sau U say what ever but Ur chain marketing will make U very rich one and some investors but...U will one day make a big group of people fool.From where will U give all Ur investors their interest.Ur 20000-25000 teak is enough or ur fish or ur achar.Calculator does not work at ur way of giving interest more than 20%. God bless U dude, be happy to make one day others unhappy.
N May 23, 2012 by
User
Biswajit Das 123  
 
That's right. As a part of the chain marketting, Pritam is doing as much as he can to defend MPS with some baseless and meaningless statement ("Sebi want to protect himself"). I feel pity for the investors who are being misguided by these agents.
N May 24, 2012 by
User
halifshah  
 
I am a son of reputed farmer and proud to say that.At present I am Master Degree holder.Still very much interested in agriculture and farming.Hobby in cultivating new ones.So pls don, t teach about papaya and papaya market price.I don, t think U go to market-mall nor to the farm land, stay for 5 years as farmer and opt for latest technology. Why? the papaya you say is coming from the garden of Adam and Eve.
N May 24, 2012 by
User
Biswajit Das 123  
 
So, you don't need to invest in MPS - just plant papaya trees. If you can plant 5 papaya trees, after 6 years, you will be lakhpati :).
N May 25, 2012 by
User
halifshah  
 
Mr.Biswajit, rightly said ! Mr.Papaya the lakpati.
You reminded me of Popai Show.
N May 28, 2012 by
User
Biswajit Das 123  
 
Of course you will be crorepati by cheating thousands of people...that's more easier than planting papaya tree even. Do you want to say that ex fish minister invested govt funds (tax payed for WB) for sponsoring MPS for his own interest? That may be the reason why MPS was able to continue business till date. Your other comments are as much meaningless as MPS's strategy. I believe your last 2 sentences are more applicable for your investors who are going to lose their money very soon.
N May 30, 2012 by
User
Biswajit Das 123  
 
Janasarthe or Company & Agent der sarthe? As per SEBI Act, 1992, no company can collect funds under CIS scheme without having final registration. Regarding this order, this is a nice game MPS played. For this suit (eyewash?), both the parties were from MPS group. SEBI already made their statement very clear regarding this:
"A few persons claiming to be marketing agents/ development executives of the company filed suits at different civil courts in West Bengal against MPS for granting injunction against the said letters of MPS so that the agents could continue mobilization of money from the investors. It appears that the injunctions were used to circumvent SEBI restrictions and to collect further money. One such suit TS 02/2009 in Civil Court (Junior Division) Garbetta, was filed by none other than two directors of the company which shows the collusive nature of the Civil Suits. Upon dismissal of such suit in favour of SEBI, an appeal was also filed by the same directors of the company. Registrar of Companies, Kolkata vide letter dated November 15, 2010 informed SEBI about filing of some of these suits where SEBI was not a party. SEBI thereafter filed impleading applications where it was not a party and all courts except one, where the matter is pending for hearing, have vacated the injunctions. However, it is a civil dispute between
MPS and its marketing agents/development executives and there is no prohibition for SEBI from passing appropriate directions in accordance with its regulations read with the SEBI Act, 1992."
N May 31, 2012 by
User
Biswajit Das 123  
 
Do you have any doubt that the provisional registration from Sebi has been expired? Regarding the stay order, we all know that in our country, court is the primary way of slowing things down - it is true for all scams and even for all terrorists. But the question is - as an investor, whom should we trust - the regulatory authority (SEBI), independent and professional Investment Information and Credit Rating Agency (ICRA) or the company itself who are deviating from their statement every now and then (just consider your different statements about provisional registration)?
N Jun 3, 2012 by
User
Biswajit Das 123  
 
Sounding like - "Every mental patient thinks he is OK and the entire outside world is mentally sick" :)
N Jun 4, 2012 by
User
Biswajit Das 123  
 
MPS er standard ki ta MPS er marketing agent er language diye bojha jai. They normally use languages like "Sala, tui..." to convince people who normally believes in industry standard and government agencies. So, everyone can understand when the question of paying maturity amount will come, what performance they can expect from these agents and from this company.
N Jun 9, 2012 by
User
Biswajit Das 123  
 
I don't expect to understand the justifications from a marketing agent who says -
1) MPS is more secured than bank FD
2) "I don't care SEBI, ICRA - whatever they are saying is wrong - MPS is the best"
3) SEBI registration is not required for collecting funds for CIS
4) Provisional registration is sufficient for collecting money.

It's true that he is doing his duty.

MPS eto din taka diyechhe mane je future eo debe tar kono gurantee nei - hoi to debe, hoi to debe na. Amar ek bondhu para r football club e khelto. Se bolto - 'amader club kono din match hare ni, tai future eo harbe na - seta je match e (even Man U r songe) hok na keno' According to him, his club is the best club in the world. Mr. Pritam is sounding like him :)
N Jun 12, 2012 by
User
Biswajit Das 123  
 
Have you ever looked back the comments you have made so far? You are not sure whether you have the registration from SEBI or not - that's why you are questioning why MPS's name is still there in SEBI's site and on next post, you are blaming SEBI for not providing the registration.
If total asset and business nature is the benchmark for investment securities, I would like to go with Tata or Birla group's investment schemes who can buy 100s of companies like MPS.
The last part is the biggest joke (among all the funny words you have used so far). Sebi'r 2000 crore asset nei bole sebi bole kichhu thakbe na - ha..ha..ha - so in this logic, Police er asset khub e kom (compared to all the criminals), tai police bole o r kichhu thakbe na mone hochhe. SEBI is the market cop assigned by central govt - I don't know whether you have enough knowledge to understand this or not.
A Jul 18, 2012 by
User
sakta hat  
 
The cheat fund companies cheating the people just circulating money- please make a forum for them immediately to fight against these cheaters.

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    MPS Greenery Developers Ltd - CHEAT OF MONEY