https://www.taxtmi.com/caselaws?id=757092 SEBI found that entities operating the Growpital platform prima facie violated provisions of SEBI Act and CIS Regulations by running an unregistered collective investment scheme that mobilized over Rs. 184 crore from investors. The Board determined this constituted fraudulent practice under PFUTP Regulations as no prior registration was obtained. SEBI issued an ad-interim ex-parte order directing entities to cease CIS activities, stop collecting funds, not divert existing funds, freeze assets, provide asset inventory within 15 days, remove all promotional materials, and refrain from securities market access. Banks and depositories were directed to freeze accounts of named entities. en-us Mon, 29 Jan 2024 00:00:00 +0530 Tue, 13 Aug 2024 12:20:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757092 SEBI found that entities operating the Growpital platform prima facie violated provisions of SEBI Act and CIS Regulations by running an unregistered collective investment scheme that mobilized over Rs. 184 crore from investors. The Board determined this constituted fraudulent practice under PFUTP Regulations as no prior registration was obtained. SEBI issued an ad-interim ex-parte order directing entities to cease CIS activities, stop collecting funds, not divert existing funds, freeze assets, provide asset inventory within 15 days, remove all promotional materials, and refrain from securities market access. Banks and depositories were directed to freeze accounts of named entities. Case-Laws SEBI Mon, 29 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757092