https://www.taxtmi.com/caselaws?id=195292 The Tribunal upheld SEBI's order directing the Appellants to wind up their schemes and refund all money collected from investors within six months. The Tribunal found the schemes to be Collective Investment Schemes (CIS) requiring registration with SEBI, as per SEBI regulations. The Appellants' argument that their activities did not constitute CIS was rejected. The Tribunal emphasized the need for compliance with SEBI regulations and extended the repayment period due to the complexity of the process and the number of investors involved. The appeal was dismissed without costs. en-us Tue, 23 Jul 2013 00:00:00 +0530 Wed, 25 Oct 2017 16:58:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195292 The Tribunal upheld SEBI's order directing the Appellants to wind up their schemes and refund all money collected from investors within six months. The Tribunal found the schemes to be Collective Investment Schemes (CIS) requiring registration with SEBI, as per SEBI regulations. The Appellants' argument that their activities did not constitute CIS was rejected. The Tribunal emphasized the need for compliance with SEBI regulations and extended the repayment period due to the complexity of the process and the number of investors involved. The appeal was dismissed without costs. Case-Laws Companies Law Tue, 23 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195292