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2016 (11) TMI 1662 - SC - SEBISEBI reiterated an ex-parte order - order was treated as a show cause notice in the facts of this case, and detailed directions were issued by this order - HELD THAT:- We have been informed by learned Senior counsel appearing for SEBI that the ongoing investigations will be completed within six months from today, provided the respondents before us cooperate. We accept the said submission and expect that the ongoing investigations will decide one way or the other whether the respondents floated a Collective Investment Scheme (CIS). In the unlikely event that SEBI's investigation does not or is not complete within the period of six months from today, it is open for the respondents to ask for a variation of the order dated 24.08.2015 of SEBI from this Court. We further add that in case any alienation or encumbrance of assets is sought to be made by the respondents, they cannot do so without the prior permission of SEBI.
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