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2005 (5) TMI 329 - SUPREME COURTWhether Technip acquired control of SEAMEC through Coflexip in April, 2000, or in July, 2001? Held that:- SEBI had noted that the takeover of SEAMEC was only an incidental fall out of the control of Coflexip and that SEAMEC formed a ‘small and insignificant portion of the total business of Coflexip’ contributing merely 2% of the total asset base of Coflexip as on December, 2000. The finding was not reversed by SAT. Thus SEBI’s order must prevail and the order of SAT must be set aside
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