https://www.taxtmi.com/caselaws?id=194662 The court found that the Company's schemes constituted Collective Investment Schemes (CIS) under section 11AA of the SEBI Act. SEBI's jurisdiction over the Company's schemes was upheld, and the Company and its directors were found to have violated relevant provisions. The Company's request to follow regulation 73 of the CIS Regulations was denied. The Company and its directors were directed to wind up the CIS, refund investors, and face restrictions in the securities market. Non-compliance could lead to further legal actions, including winding up the Company. en-us Mon, 29 Feb 2016 00:00:00 +0530 Tue, 19 Sep 2017 10:22:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194662 The court found that the Company's schemes constituted Collective Investment Schemes (CIS) under section 11AA of the SEBI Act. SEBI's jurisdiction over the Company's schemes was upheld, and the Company and its directors were found to have violated relevant provisions. The Company's request to follow regulation 73 of the CIS Regulations was denied. The Company and its directors were directed to wind up the CIS, refund investors, and face restrictions in the securities market. Non-compliance could lead to further legal actions, including winding up the Company. Case-Laws Companies Law Mon, 29 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194662