2016 (7) TMI 1678

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..... floated and operated CIS without registering with SEBI and hence in violation of CIS Regulations, since the schemes are closed by the Appellants voluntarily and substantial amount is refunded to the investors, we grant extension of two years time from the date of this order to the Appellants to enable them to pay the balance amount refundable to the investors. HELD THAT:- No substance in these .....

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..... v., Mr. Mahesh Agarwala, Adv., Mr. Vivek Jain, Adv., Ms. Sadapurna Mukherjee, Adv., Mr. Rishabh Parikh, Adv., For Mr. E.C. Agrawala, Adv. ORDER Delay condoned. Heard Mr. Tushar Mehta, the learned Additional Solicitor General, appearing on behalf of the appellant and Mr. C.A. Sundaram, the learned Senior Counsel, appearing on behalf of the respondents, on caveat. Upon hearing the lea .....

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