SEBI not to stop plantation schemes

MUMBAI, Nov 20: Even as SEBI is preparing regulations for plantation companies, it has decided that it will not stop any plantation company from coming out with new schemes during the transitional period when the regulations are being formalised. The companies will be required to follow the disclosure requirements as any other company coming out with an issue.

They will have to submit the offer document, project report, the returns and the backing for this return if it is a guaranteed one and projections. SEBI will include a directive in the SEBI Act under sections 11 and 12 for this purpose.