Securities and Exchange Board of India (SEBI)
The Securities and Exchange Board of
India (SEBI) is the regulator for the securities market in India
with statutory powers under the SEBI Act, 1992. In particular, it regulates Collective
Investment Schemes (CIS) under SEBI(Collective Investment Schemes) Regulations,
1999. Any scheme or arrangement made or
offered by any company under which the contributions, or payments made by the
investors, are pooled and utilised with a view to receive profits, income,
produce or property, and is managed on behalf of the investors is a CIS.
Investors do not have day to day control over the management and operation of such
scheme or arrangement. Thus, a Collective investment scheme is any scheme
or arrangement, which satisfies the conditions, referred to in sub-section (2)
of section 11AA of the SEBI Act.
SEBI has made it mandatory for every entity that is
running the CIS to register itself under section 12(1B) of the Act and
Regulation 3 of the Regulations. However, if any person is operating a CIS
before the commencement of the regulations, such person shall make an
application to SEBI for the grant of registration certificate.
List of companies against whom ————— can be found at
Orders of SEBI against companies floating CIS without
registration, etc can be found at ……………………..
For more information, please visit http://www.sebi.gov.in/