Sudhir Shankar Moravekar, Shobha Ratnakar Barde, Usha Arun Tari, Manish Kalidas Gandhi, Chandrasen Ganpatrao Bhise, Ramachandran Ramakrishnan
Penalties and directions recorded
- SEBI impugned order 29.02.2016: refund Rs 7,035 crore to investors within three months
- SEBI impugned order: refund Rs 7,035 crore to investors within three months from 29 February 2016
SAT-appeal
- Operating unregistered Collective Investment Scheme under guise of time-sharing holiday plans, violating Section 12(1B) read with Regulation 3.SEBI impugned order 29.02.2016: refund Rs 7,035 crore to investors within three months · SEBI impugned order: wind up CIS operated as time-sharing businessAppeal: Appeal Nos. 52 of 2016, 53 of 2016 and 51 of 2017 against SEBI order dated 29.02.2016, heard 08.03.2017, decided 12.05.2017 by common order
- Operating unregistered Collective Investment Scheme under guise of time-sharing holiday plans, mobilizing Rs 7,035 crore without CIMC registration under Sec 12(1B) and Reg 3.SEBI impugned order: refund Rs 7,035 crore to investors within three months from 29 February 2016 · SEBI impugned order: wind up CIS operated as time-sharing business
Source: SecMarx — Sudhir Shankar Moravekar, Shobha Ratnakar Barde, Usha Arun Tari, Manish Kalidas Gandhi, Chandrasen Ganpatrao Bhise, Ramachandran Ramakrishnan. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (charges, outcomes, appeal chain) is cited to us.