The association, in a release, said that for almost ten years, agro-plantation companies, floating various collective investment schemes, were not regulated. As a result, a number of fraudulent operators came into play.

They not only duped lakhs of investors but also severely damaged the otherwise crucial sectors of hi-tech, integrated collective farming and forestry.

AAPCI said there is a need for evolving a package so that genuine companies could be segregated from fraudulent ones and salvaged so that at least investments made therein can be saved.

"At the same time, it must also be ensured that promoters and directors of fraudulent companies be penalised in an exemplary manner," the release added.