https://www.taxtmi.com/caselaws?id=196597 The High Court considered the legality of an order by SEBI under specific provisions of the SEBI Act and Regulations. The Court found that SEBI had not definitively determined if the petitioners' business constituted a Collective Investment Scheme. It agreed with the petitioners that all statutory requirements must be met to classify a scheme as such. As an interim measure, the Court suspended certain directions in SEBI's order, allowing the petitioners to continue operations with restrictions. This decision emphasizes the need for fulfilling statutory criteria and questions SEBI's jurisdiction pending further proceedings. en-us Thu, 01 Aug 2013 00:00:00 +0530 Fri, 08 Dec 2017 14:35:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196597 The High Court considered the legality of an order by SEBI under specific provisions of the SEBI Act and Regulations. The Court found that SEBI had not definitively determined if the petitioners' business constituted a Collective Investment Scheme. It agreed with the petitioners that all statutory requirements must be met to classify a scheme as such. As an interim measure, the Court suspended certain directions in SEBI's order, allowing the petitioners to continue operations with restrictions. This decision emphasizes the need for fulfilling statutory criteria and questions SEBI's jurisdiction pending further proceedings. Case-Laws Companies Law Thu, 01 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196597