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Is Sahara India v. SEBI still good law on the SEBI's jurisdiction over CIS schemes by unlisted companies?

Status check2.1s

Good lawβ€” Sahara India Real Estate Corp. Ltd. v. SEBI, (2013) 1 SCC 1, remains the leading authority on the reach of SEBI's jurisdiction over collective investment schemes by unlisted companies that effect a public issue.

The principle has been followed in Roofit Industries v. SEBI (2018) and reaffirmed by the three-judge bench in Pancard Clubs v. SEBI (2022).

Bottom line: still good law. No subsequent ruling has departed from the Sahara framework on this point.

3 authorities citedParagraph-checkedFree Β· streamed
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Supreme Court4 Mayβ–Ά5:24

RPSC v. Lavanshu Sankhla & Ors.

Where a service rule's proviso permitting final-year-appearing candidates has been deleted, subsequent acquisition of qualification cannot cure ineligibility at the application stage.

2:14 / 5:24

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