https://www.taxtmi.com/caselaws?id=459233 Delhi HC upheld convictions of company directors under SEBI Act for operating unregistered collective investment scheme. Company violated regulations by raising funds after October 1999 without SEBI registration and failed to make payments within stipulated periods. Directors were held vicariously liable as persons in-charge of business operations. Court found no evidence that appellants exercised due diligence to prevent violations or that offences occurred without their knowledge. Appeals dismissed with original sentences and fines maintained as investors remained unpaid. en-us Wed, 29 Jan 2014 00:00:00 +0530 Thu, 05 Dec 2024 21:12:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459233 Delhi HC upheld convictions of company directors under SEBI Act for operating unregistered collective investment scheme. Company violated regulations by raising funds after October 1999 without SEBI registration and failed to make payments within stipulated periods. Directors were held vicariously liable as persons in-charge of business operations. Court found no evidence that appellants exercised due diligence to prevent violations or that offences occurred without their knowledge. Appeals dismissed with original sentences and fines maintained as investors remained unpaid. Case-Laws SEBI Wed, 29 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459233