https://www.taxtmi.com/caselaws?id=196576 SEBI found that RVHEL's Rose Valley Holiday Membership Plan (HMP) constituted a 'collective investment scheme' under section 11AA of the SEBI Act due to pooling of investor contributions, returns in the form of annualized interest, and management by RVHEL. Despite RVHEL's claim that its 'Time Share' business was outside SEBI's jurisdiction, the Court held that the HMP fell within SEBI's purview. RVHEL's refusal to comply with SEBI's directives and submit required documents led to SEBI imposing interim measures to protect investors' interests, prohibiting further fund collection and asset disposal. RVHEL and its Directors were given a show cause notice to respond within 15 days. en-us Wed, 10 Jul 2013 00:00:00 +0530 Wed, 10 Jan 2018 18:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196576 SEBI found that RVHEL's Rose Valley Holiday Membership Plan (HMP) constituted a 'collective investment scheme' under section 11AA of the SEBI Act due to pooling of investor contributions, returns in the form of annualized interest, and management by RVHEL. Despite RVHEL's claim that its 'Time Share' business was outside SEBI's jurisdiction, the Court held that the HMP fell within SEBI's purview. RVHEL's refusal to comply with SEBI's directives and submit required documents led to SEBI imposing interim measures to protect investors' interests, prohibiting further fund collection and asset disposal. RVHEL and its Directors were given a show cause notice to respond within 15 days. Case-Laws Companies Law Wed, 10 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196576