SAT Upholds SEBI Order: PACL Must Refund Rs. 49,000 Crore from Unauthorized Investment Schemes for Regulatory Violations. https://www.taxtmi.com/highlights?id=84731 SAT upheld SEBI's order directing PACL to refund over Rs. 49,000 crore collected through illegal collective investment schemes. Key legal principles: PACL's activities violated SEBI CIS Regulations as it mobilized huge sums without regulatory approval. PACL failed to prove its business model was legitimate. SAT rejected PACL's arguments and upheld SEBI's directions to wind up schemes and refund investors. en-us Thu, 09 Jan 2025 13:24:41 +0530 Thu, 09 Jan 2025 13:24:41 +0530 TaxTMI RSS Generator SAT Upholds SEBI Order: PACL Must Refund Rs. 49,000 Crore from Unauthorized Investment Schemes for Regulatory Violations. https://www.taxtmi.com/highlights?id=84731 SAT upheld SEBI's order directing PACL to refund over Rs. 49,000 crore collected through illegal collective investment schemes. Key legal principles: PACL's activities violated SEBI CIS Regulations as it mobilized huge sums without regulatory approval. PACL failed to prove its business model was legitimate. SAT rejected PACL's arguments and upheld SEBI's directions to wind up schemes and refund investors. Highlights SEBI Thu, 09 Jan 2025 13:24:41 +0530 https://www.taxtmi.com/highlights?id=84731