https://www.taxtmi.com/caselaws?id=170940 A vague or undefined KYC obligation under Regulation 15A of the SEBI (FII) Regulations, 1995 could not be enforced to require disclosure of top investors or ultimate beneficiaries of ODI clients, and no breach was established on the record. The alleged non-supply of information under Regulations 20 and 20A also failed, because the materials sought were not shown to be expressly required by those provisions and the appellant had made substantial disclosures with continuing cooperation. Directions under Section 11(4) and Section 11B could not sustain a one-year prohibition on issuing and rolling over offshore derivative instruments, as those powers are preventive and remedial, not punitive. en-us Fri, 09 Sep 2005 00:00:00 +0530 Thu, 19 Jan 2017 15:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170940 A vague or undefined KYC obligation under Regulation 15A of the SEBI (FII) Regulations, 1995 could not be enforced to require disclosure of top investors or ultimate beneficiaries of ODI clients, and no breach was established on the record. The alleged non-supply of information under Regulations 20 and 20A also failed, because the materials sought were not shown to be expressly required by those provisions and the appellant had made substantial disclosures with continuing cooperation. Directions under Section 11(4) and Section 11B could not sustain a one-year prohibition on issuing and rolling over offshore derivative instruments, as those powers are preventive and remedial, not punitive. Case-Laws Indian Laws Fri, 09 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170940