https://www.taxtmi.com/caselaws?id=393424 A land allotment and development arrangement that pooled investor contributions, used the funds for acquisition and development, promised returns through allotment or appreciation, and left investors without day-to-day control satisfied the indicia of a collective investment scheme. Carrying on that scheme without registration violated the securities law framework and amounted to unauthorised fund mobilisation treated as fraudulent and unfair trade practice; the directors were also held responsible for the company's violations. In consequence, winding-up, refund, disclosure, market restraint, debarment and asset and repayment reporting directions were issued to protect investors and secure compliance. en-us Tue, 25 Feb 2020 00:00:00 +0530 Mon, 16 Mar 2020 07:48:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393424 A land allotment and development arrangement that pooled investor contributions, used the funds for acquisition and development, promised returns through allotment or appreciation, and left investors without day-to-day control satisfied the indicia of a collective investment scheme. Carrying on that scheme without registration violated the securities law framework and amounted to unauthorised fund mobilisation treated as fraudulent and unfair trade practice; the directors were also held responsible for the company's violations. In consequence, winding-up, refund, disclosure, market restraint, debarment and asset and repayment reporting directions were issued to protect investors and secure compliance. Case-Laws SEBI Tue, 25 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393424