Thursday 29 January 2015

HC quashed SEBI's order restraining petitioners from launching new scheme as if such schemes weren't

SEBI: Where respondents had not been able to show that SEBI had jurisdiction to interfere with affairs of petitioners' business and SEBI, having not concluded till date that business of petitioners fell within meaning of expression Collective Investment Scheme, operation/execution of directions, contained in impugned order restraining petitioners from collecting money from investors and launching new schemes were to be suspended


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