https://www.taxtmi.com/caselaws?id=388596 Pooling of funds from numerous investors for a land-based solar project, combined with the company's decisive control and the investors' lack of day-to-day management control, was treated as satisfying the statutory ingredients of a collective investment scheme, making SEBI registration mandatory. The absence of registration was therefore a statutory violation. For the adjudication penalty, the note records that liability arose from carrying on the scheme without registration, and the penalty amount was considered in light of the statutory ceiling and mitigating factors such as recovery and repayment efforts. The penalty was sustained. en-us Thu, 01 Aug 2019 00:00:00 +0530 Tue, 19 Nov 2019 12:20:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388596 Pooling of funds from numerous investors for a land-based solar project, combined with the company's decisive control and the investors' lack of day-to-day management control, was treated as satisfying the statutory ingredients of a collective investment scheme, making SEBI registration mandatory. The absence of registration was therefore a statutory violation. For the adjudication penalty, the note records that liability arose from carrying on the scheme without registration, and the penalty amount was considered in light of the statutory ceiling and mitigating factors such as recovery and repayment efforts. The penalty was sustained. Case-Laws SEBI Thu, 01 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388596