26 April 2016
Observing that Securities and Exchange Board of India (SEBI) was not in a position to take a definite stand on the question as to whether violation of Section 12A(b)&(c) of the SEBI Act and violation of Regulation 3(c)&(d) of SEBI (Prevention of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 constitute...
26 October 2015
Securities Appellate Tribunal has held that the fact that Section 11AA(2) of the SEBI Act, 1992 refers to any scheme or arrangement made or offered by any ‘company’ would not mean that the jurisdiction of SEBI to regulate Collective Investment Scheme (CIS) is restricted to any scheme or arrangement made or offered by any company ...
17 December, 2014
SEBI has held that fund mobilizing activity of a company under the garb of real estate business for sale/purchase, development and maintenance of agricultural land is covered within the parameters of ‘collective investment scheme’ as defined in Section 11AA of the SEBI Act, 1992. The company in this case was running a scheme whereby it collected deposits from public in lump-...
SEBI has recently replaced its Consent Scheme with a more transparent one. Article in this issue of "Corporate Amicus" discusses the salient features of this new scheme. Ministry of Corporate Affairs has also introduced new guidelines for declaration of financial institutions as Public Financial Institutions, while also clarifying on auditing of cost accounting records. "Ratio decidendi" portio...
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