SEBI Takes Control of Funds in Collective Investment Scheme Pending Final Order; Ensures Petitioner's Right to Respond.

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....Attachment orders - collective investment scheme - SEBI found fault in the scheme - the only caveat being is that since moneys have already been transmitted to the Board, it will retain the same in trust till such time the Recovery Officer passes a final order after issuance of notice, giving due opportunity to the petitioner to respond to the same. - HC....