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18. Learned counsel for the State would submit that SEBI vide its earlier order dated 18.12.2014 (Annexure P/8) has held that Yes Developer has violated the provisions of Section 56(1), 56(3), 60 and 73 of the Companies Act, 1956, Section 29, 33(1) and 40 of the Companies Act, 2013 and Regulation 4, 5, 6, 7, 25, 26, 32, 36, 37, 46, 47, 57 and 63 of the ICDR Regulation and directed the petitioner jointly and severally to refund the money collected through the issue of Redeemable Preference Shares that are impugned in this order along with the interest i.e. promise to the investors. The SEBI has also restrained them from prohibiting them from buying, selling or otherwise dealing in securities for an appropriate period. Thereafter, the SEBI vide its order dated 15.10.2015 has directed them to utilise the assets of the company for the sole purposes of making the refund/ repayment to the subscribers/allotees till the full refund/repayment as directed in the order. The SEBI has further directed the petitioner that to refund Rs. 1,25,81,68,418/- collected Neutral Citation 2024:CGHC:12466 through issuance of OFCBs in 2008-2015 at the rate 15% per annum from the date of receipt of money till the date of such refund or the redemption value is promised and accrued till the date of refund, whichever is higher. The SEBI has directed refund of the amount only in cash through a demand draft or pay order but the neither the petitioner nor the company Yash Dream Real Estate has refunded the amount, therefore, the complainant has lodged a complaint on 19.08.2015 at that time, the PDI Act was already enacted by the State of Chhattisgarh on 23.07.2015 itself. He would further submit that the learned trial Court has recorded its finding while submitting the report to this Court that the directors of the company have sold some properties through registered sale deed which is nothing but fraudulent act of the directors of the company. Thus, the offence has been rightly registered under the PDI Act. He would further submit that all the directors of the company have filed WPCr No. 147/2016 wherein this Court has passed the following order on 19.07.2021:-