https://www.taxtmi.com/caselaws?id=426418 The court dismissed the Foundation of Independent Financial Advisors' application for claiming commission for financial advisors/distributors under Regulation 52 of SEBI (Mutual Funds) Regulations, 1996. The court clarified that commission is only applicable when the scheme is operational and not post the publication of winding up notices, highlighting the cessation of business activities post such notices under Regulation 39(3)(b). The court also rejected FIFA's claims for fees and expenses post winding up notices, emphasizing that such payments are only allowable when the scheme is in operation, not post the cessation of business activities. Additionally, the court refuted FIFA's claim for commission payment post 23rd April 2020, stating that commission is not 'due and payable under the scheme' post winding up. The court dismissed FIFA's application based on these reasons, without awarding any costs. en-us Fri, 12 Aug 2022 00:00:00 +0530 Wed, 17 Aug 2022 08:08:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426418 The court dismissed the Foundation of Independent Financial Advisors' application for claiming commission for financial advisors/distributors under Regulation 52 of SEBI (Mutual Funds) Regulations, 1996. The court clarified that commission is only applicable when the scheme is operational and not post the publication of winding up notices, highlighting the cessation of business activities post such notices under Regulation 39(3)(b). The court also rejected FIFA's claims for fees and expenses post winding up notices, emphasizing that such payments are only allowable when the scheme is in operation, not post the cessation of business activities. Additionally, the court refuted FIFA's claim for commission payment post 23rd April 2020, stating that commission is not 'due and payable under the scheme' post winding up. The court dismissed FIFA's application based on these reasons, without awarding any costs. Case-Laws SEBI Fri, 12 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426418