Rulings
SEBI: NBFCs not exempted from public issue compliances; Orders refund of monies
SEBI: Gives “benefit of doubt” to Merchant Banker as co. concealed info pre-IPO
SEBI: Dismisses SCN alleging ‘fraudulent’ shares selling; Mere ‘probabilities’ can’t establish a charge
HC: Can’t direct SEBI to exercise ‘discretionary’ investigative powers; Acquiring shares ‘voluntary’ act
SEBI: Person acting in concert with acquirer collectively responsible for Takeover Regulations breach
SEBI: Despite share transfer agent’s due-diligence failure, refrains from penalty imposition
SEBI: Bars abettor from securities market for aiding in siphoning off IPO proceeds
SEBI: Penalises target co. for annual shareholding disclosures, ‘belated’ disclosure doesn’t serve purpose
SEBI: Allows Madras Stock Exchange exit, orders name change & tax compliance
SEBI: Reclassifying promoters as public shareholders to meet 25% threshold gross misrepresentation
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