From THE HINDU group of publications
Sunday, January 07, 2001
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From THE HINDU group of publications Sunday, January 07, 2001 |
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Bonds & FDs
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SEBI asks CIS operators to wind up
The Securities and Exchange Board of India (SEBI) has asked 523 entities operating collective investment schemes (CIS) to wind up their operations and repay investors their dues within a month.
According to the SEBI (CIS) Regulations 1999, an existing CIS which has failed to make an application for registration to the board, or, which has not been granted provisional registration by the board, or which has failed to comply with the provisions of regulations 71, will have to wind up existing schemes and make repayment to the investors.
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