2015 (8) TMI 1502

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....umaraswamy, S.C., for Mr.Shivakumar ORDER By the impugned order dated 05.02.2015, the first respondent in exercise of the power conferred under Sections 11(1), 11(B) and 11(4) of the Securities and Exchange Board of India(SEBI) Act, 1992 read with Collective Investment Schemes(CIS) Regulations, 1999 and PFUTP Regulations held as follows: ". not to collect any fresh money from investors under....

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.... Details of commission paid on amounts mobilised above, iv. Details of agents along with their addresses, etc. v. Audited Accounts for the last financial year and vi. PAN of AGFEIPL and aforementioned Directors. 23. The above directions shall take effect immediately and shall be in force until further orders. 24. This Order is without prejudice to the right of SEBI to take any other acti....

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....ss the order impugned. The third respondent is also proceeding as if, there is violation of Andhra Pradesh Protection of Depositors Scheme. Therefore, both the parties are proceeding in different direction. Hence the learned Senior Counsel submits that appropriate orders will have to be passed. 3. The learned Senior Counsel appearing for the first respondent submitted that the order is only a pas....

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....tter of this nature, touching upon Revenue and technical aspects involving economy, this Court is expected to adopt a dignified reluctance to leave the issues open to be decided by the statutory authority. Thus without going into the merits of the Case, this Court directs the first respondent to pass appropriate final orders after considering the reply given already and to be given in the form of ....