https://www.taxtmi.com/caselaws?id=384954 The Tribunal upheld SEBI's findings that the appellant's operations constituted a collective investment scheme under Section 11AA of the SEBI Act. SEBI directed the appellant to refund investors' money within three months. The Tribunal allowed an 18-month refund period but dismissed the subsequent appeal to the Supreme Court. SEBI rejected the appellant's extension request and initiated recovery proceedings. The Tribunal found Regulation 73 of the CIS Regulations inapplicable to the appellant's scheme. The appellant's non-cooperation with the appointed auditor and dilatory tactics led to the rejection of their extension request. All appeals and applications were dismissed, affirming SEBI's orders. en-us Tue, 13 Aug 2019 00:00:00 +0530 Tue, 27 Aug 2019 08:03:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384954 The Tribunal upheld SEBI's findings that the appellant's operations constituted a collective investment scheme under Section 11AA of the SEBI Act. SEBI directed the appellant to refund investors' money within three months. The Tribunal allowed an 18-month refund period but dismissed the subsequent appeal to the Supreme Court. SEBI rejected the appellant's extension request and initiated recovery proceedings. The Tribunal found Regulation 73 of the CIS Regulations inapplicable to the appellant's scheme. The appellant's non-cooperation with the appointed auditor and dilatory tactics led to the rejection of their extension request. All appeals and applications were dismissed, affirming SEBI's orders. Case-Laws SEBI Tue, 13 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384954