https://www.taxtmi.com/caselaws?id=287241 SEBI treated the company's holiday plans and fund mobilisation model as prima facie satisfying the statutory indicia of a collective investment scheme, relying on the scale of public fund collection, incomplete disclosure, substantial commissions, related-party loans and advances, and the scheme's overall structure. Objections based on absence of urgency, non-supply of complaints, alleged timeshare character, and lack of a securities-market nexus were rejected because the statutory test turns on the nature of the scheme, not on whether a traditional security is issued. Later material did not displace the prima facie view, so the interim restraints were confirmed and continued to protect investors and prevent dissipation of assets. en-us Mon, 24 Aug 2015 00:00:00 +0530 Fri, 27 Nov 2020 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287241 SEBI treated the company's holiday plans and fund mobilisation model as prima facie satisfying the statutory indicia of a collective investment scheme, relying on the scale of public fund collection, incomplete disclosure, substantial commissions, related-party loans and advances, and the scheme's overall structure. Objections based on absence of urgency, non-supply of complaints, alleged timeshare character, and lack of a securities-market nexus were rejected because the statutory test turns on the nature of the scheme, not on whether a traditional security is issued. Later material did not displace the prima facie view, so the interim restraints were confirmed and continued to protect investors and prevent dissipation of assets. Case-Laws SEBI Mon, 24 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287241