https://www.taxtmi.com/caselaws?id=345991 The appeal was dismissed, upholding SEBI's cancellation of Sahara Mutual Fund's registration due to the unfit status of its sponsor and Promoter-Director. The court emphasized the continuous obligation of mutual fund sponsors to meet fit and proper criteria and SEBI's authority to lift the corporate veil for investor protection. The judgment highlighted the impact of the Promoter-Director's status on the mutual fund and AMC, stressing the importance of compliance with SEBI regulations and reporting requirements. Appellants were granted a six-week stay to appeal to the Supreme Court. en-us Fri, 28 Jul 2017 00:00:00 +0530 Wed, 02 Aug 2017 08:38:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345991 The appeal was dismissed, upholding SEBI's cancellation of Sahara Mutual Fund's registration due to the unfit status of its sponsor and Promoter-Director. The court emphasized the continuous obligation of mutual fund sponsors to meet fit and proper criteria and SEBI's authority to lift the corporate veil for investor protection. The judgment highlighted the impact of the Promoter-Director's status on the mutual fund and AMC, stressing the importance of compliance with SEBI regulations and reporting requirements. Appellants were granted a six-week stay to appeal to the Supreme Court. Case-Laws Companies Law Fri, 28 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345991