Making public a list of 63 companies running illegal money pooling schemes, market regulator Securities and Exchange Board of India (Sebi) has cautioned investors and general public against dealing with such entities and advised them not be lured by promises of high returns. The latest list released by Sebi yesterday is an expansion to the previous one in December, 2014, wherein it had named 51 entities.

The warning to investors comes after Sebi observed that certain entities were mobilising money through illegal investment schemes even after the regulator had directed them not to raise any further money and not to launch any new schemes, among others. Accordingly, listing out 63 entities, Sebi has issued a caution to the investors and general public not to invest in illegal schemes offered by such companies that claim to offer much higher returns than banks and other registered entities.

Sebi has asked the investors to report unauthorised money pooling activities to the market regulator, state authorities including police "immediately, along with appropriate details/documents". The list of entities banned by Sebi from raising funds include names like Saradha Realty India, Rose Valley Real Estate & Constructions, Sai Prasad Properties, PACL, Sumangal Industries, MVL Ltd, KBCL India, Nicer Green, Alchemist Infra Realty, HBN Dairies, Kim Infrastructure & Developers.