Rulings
SEBI: Grants open-offer exemption to private family trust for acquiring 11.54% shares in Pudumjee Pulp
SAT: Dismisses Lead Manager’s appeal, affirms SEBI’s jurisdiction over GDR issue; Interprets ‘fraud’ under PFUTP Regulations
SAT: SEBI’s 2 year inaction results restraining order modification for PFUTP Regulations & Insider Trading Code violation
SC: Dismisses Acquirer’s appeal, Rules on parameters for Open Offer withdrawal under Takeover Code
SEBI: Observes stock-tips & investment advice without registration, issues interim restraint order
SEBI: Equity holding determines ‘Control’; MD tripling stake in Merchant Banking co. requires prior-permission
SEBI: Directs refund to 214 allottees for violating IPO norms, interprets SEBI circular prescribing exit route
SEBI: Debars vanishing cos., promoter/directors from fund-raising & dealing in securities market for 5-years
SAT: Majority quashes SEBI’s penalty order on top Merchant Bankers for disclosure lapses in CARE’s IPO-Prospectus
SEBI: Exempts family Trust from open-offer compliance for acquiring shares in Max Financial Services, notes succession planning
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