https://www.taxtmi.com/caselaws?id=235121 The court upheld the validity of Regulation 2(1)(s) of SEBI Regulations, 1999 under Article 14 of the Constitution of India, ruling that the exclusion of revaluation funds in determining 'net worth' is not arbitrary. It also affirmed the compliance requirement of Regulation 9(c) for a minimum 'net worth' of Rs.5 crores, emphasizing investor protection and market integrity. The exclusion of revaluation funds was deemed necessary to prevent artificial valuations. The court held that the regulations, including the 'net worth' condition, were justified under Article 19(1)(g) to safeguard investor interests and the securities market's orderly growth. The appeal was dismissed, requiring the appellant to wind up the scheme and repay investors. en-us Wed, 10 Apr 2013 00:00:00 +0530 Fri, 12 Jul 2013 07:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235121 The court upheld the validity of Regulation 2(1)(s) of SEBI Regulations, 1999 under Article 14 of the Constitution of India, ruling that the exclusion of revaluation funds in determining 'net worth' is not arbitrary. It also affirmed the compliance requirement of Regulation 9(c) for a minimum 'net worth' of Rs.5 crores, emphasizing investor protection and market integrity. The exclusion of revaluation funds was deemed necessary to prevent artificial valuations. The court held that the regulations, including the 'net worth' condition, were justified under Article 19(1)(g) to safeguard investor interests and the securities market's orderly growth. The appeal was dismissed, requiring the appellant to wind up the scheme and repay investors. Case-Laws Companies Law Wed, 10 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235121