Collective Investment Scheme Archives

Bombay High Court| ‘Deposit receipt’ confirming accounts amounts to a written contract for a summary suit to be maintainable

Bombay High Court: In a commercial division summary suit instituted by Aziz Amir Ali (‘plaintiff’) who is former employee of a registered

Case Briefs Tribunals/Commissions/Regulatory Bodies

Unregistered Collective Investment Scheme violative of S. 12(1)(b) of SEBI Act and Regulations, order to pay 10% p.a. interest on refundable amount not vitiated: SAT

Securities Appellate Tribunal, Mumbai: Coram of Justice Tarun Agarwala (Presiding Officer) and Justice M.T. Joshi (Judicial Member), upheld the direction given by

Case Briefs Tribunals/Commissions/Regulatory Bodies

SAT | Company floating CIS without registering with SEBI held liable under S. 15-HA of SEBI Act

Securities Appellate Tribunal (SAT): A Two-Member Bench of Justice Tarun Agarwala (Presiding Officer) and Justice M.T. Joshi (Judicial Member) was hearing two

Case Briefs Tribunals/Commissions/Regulatory Bodies

SEBI | Directors liable along with Company to refund the money of investors collected under ‘Collective Investment Scheme’ without obtaining a certificate of registration

Securities and Exchange Board of India (SEBI): Ananta Barua, Whole Time Member, issued directions holding the Directors of Zeestar liable for accepting

Case Briefs Tribunals/Commissions/Regulatory Bodies

SAT | Representation for refund made by appellants rejected by SEBI as it did not indicate the manner and mode of repayment to investors

Securities Appellate Tribunal (SAT): A Division Bench of Justice Tarun Agarwala, (Presiding Officer) and Dr C. K. G. Nair (Member), upheld the

Case Briefs Tribunals/Commissions/Regulatory Bodies

SAT | Companies cannot run CIS Scheme without registering it with SEBI

Securities Appellate Tribunal (SAT): Justice Tarun Agarwala (Presiding Officer) and Dr C.K.G. Nair (Member) justified the penalty imposed by SEBI on the appellants

Case Briefs Tribunals/Commissions/Regulatory Bodies

SEBI | Scheme for purchase and booking of plots of land – a collective investment scheme requiring certificate of registration

Securities and Exchange Board of India (SEBI): The Board comprising S.K. Mohanty whole time member, concluded that launching/ floating/ sponsoring / causing