Wednesday, 19 August 2015

SAT directed 'PACL' to wind-up sham CIS and refund monies of investors

SEBI : Where in guise of running real estate business, PACL was running sham Collective Investment Schemes (CIS) which were detrimental to interest of investors, decision of SEBI directing PACL to wind up existing CIS and refund money collected from investors with promised return could not faulted

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