https://www.taxtmi.com/caselaws?id=431120 The court dismissed the petition seeking regulation of Time Share Companies as Collective Investment Schemes (CIS) under the SEBI Act and CIS Regulations. The court held that not all Time Share schemes automatically qualify as CIS and that each scheme must be assessed individually. It declined to direct SEBI to enforce Section 11-AA against all Time Share Companies, stating that SEBI already addresses complaints appropriately. The court also rejected the plea to mandate the government to formulate legislation for Time Share Companies, citing precedents that courts cannot compel legislative action. The petition was dismissed with costs of Rs. 25,000 imposed on the petitioner. en-us Wed, 30 Nov 2022 00:00:00 +0530 Tue, 06 Dec 2022 10:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431120 The court dismissed the petition seeking regulation of Time Share Companies as Collective Investment Schemes (CIS) under the SEBI Act and CIS Regulations. The court held that not all Time Share schemes automatically qualify as CIS and that each scheme must be assessed individually. It declined to direct SEBI to enforce Section 11-AA against all Time Share Companies, stating that SEBI already addresses complaints appropriately. The court also rejected the plea to mandate the government to formulate legislation for Time Share Companies, citing precedents that courts cannot compel legislative action. The petition was dismissed with costs of Rs. 25,000 imposed on the petitioner. Case-Laws SEBI Wed, 30 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431120