https://www.taxtmi.com/caselaws?id=102632 The High Court upheld the decision of the Company Law Board (CLB) that the Unit Trust of India (UTI), although a mutual fund, is not subject to SEBI regulations. The CLB has the power to review the Board's decisions and can order the registration of share transfers if the refusal is deemed to be based on incorrect grounds. The appeal was dismissed, with the appellants instructed to bear their own costs and those of the respondents. The order was stayed for six weeks to permit the appellants to appeal to a higher court. en-us Thu, 01 Sep 1994 00:00:00 +0530 Wed, 15 Feb 2012 15:43:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102632 The High Court upheld the decision of the Company Law Board (CLB) that the Unit Trust of India (UTI), although a mutual fund, is not subject to SEBI regulations. The CLB has the power to review the Board's decisions and can order the registration of share transfers if the refusal is deemed to be based on incorrect grounds. The appeal was dismissed, with the appellants instructed to bear their own costs and those of the respondents. The order was stayed for six weeks to permit the appellants to appeal to a higher court. Case-Laws Companies Law Thu, 01 Sep 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102632