Aspen Projects India and its seven directors have been prohibited by the market regulator SEBI from selling various movable and immovable properties as a part of its efforts to recover Rs 39 crore dues.

SEBI, after finding the company and its directors illegally raising funds from the public, asked to refund the money.

According to an order passed by Sebi’s Recovery Officer, the entities have been now barred from disposing of 10 immovable properties as well as other movable assets.

The recovery process has already been initiated by the regulator.

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