https://www.taxtmi.com/caselaws?id=391067 The Securities Appellate Tribunal upheld the penalty imposed by the Adjudicating Officer of SEBI on the appellants for operating a Collective Investment Scheme without registration. The Tribunal found the funds mobilized were illegal profits, justifying the penalty under Section 15HA of the SEBI Act. It affirmed that factors under Section 15J were duly considered, noting the profits were at the expense of investors. The appeals were dismissed, emphasizing the unlawful nature of the scheme and supporting the penalty decision. en-us Tue, 14 Jan 2020 00:00:00 +0530 Sat, 18 Jan 2020 12:50:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391067 The Securities Appellate Tribunal upheld the penalty imposed by the Adjudicating Officer of SEBI on the appellants for operating a Collective Investment Scheme without registration. The Tribunal found the funds mobilized were illegal profits, justifying the penalty under Section 15HA of the SEBI Act. It affirmed that factors under Section 15J were duly considered, noting the profits were at the expense of investors. The appeals were dismissed, emphasizing the unlawful nature of the scheme and supporting the penalty decision. Case-Laws SEBI Tue, 14 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391067