Rulings
SEBI: Penalizes promoters/connected-persons for non-compliance of multiple SEBI-Regulations; Rejects non-residents shareholders’ exit
SAT: Disclosure obligation under Takeover Code on ‘promoter-group’, not on every ‘promoter’ in group
HC: Refuses to red-light rights issue, rejects shareholder’s belated attempt to assert ‘promoter’ status
SC: Denies ‘fee-continuity benefit’ to Vadodara Exchange’s subsidiary, Rejects ‘amalgamation by law compulsion’ argument
SC: Stock broking membership transfer / segregation not akin to corporatisation; Rejects fee continuity benefit
SC: Corporatisation by brokers can’t rob them of membership benefits; Dismisses SEBI appeal
SEBI: Issues stern warning over ‘pre-mature’ acquisition announcement, followed by deal cancellation non-disclosure
SEBI: Penalizes promoters for Takeover Code violations, relies on Merchant Banker’s certified Offer-Letter
SAT: Dismisses SEBI’s decision rejecting Self-Regulatory Organization registration application, natural justice principle violated
HC: Upholds Trial court order for converting ‘summons-case’ into ‘warrant-case’ for violating SEBI (CIS) Regulations
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