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2018 (11) TMI 1586 - HC - SEBIDetermination of offer price of shares - price per share as computed on 18.07.2018/8.08.2018, which according to the petitioner are dates on which the respondent no.2 Life Insurance Corporation of India Bar and Bench (LIC) had agreed to acquire further shares in IDBI Bank Ltd. - petitioner’s contention is that LIC and IDBI Bank Ltd. have violated the provisions of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011 thereby benefiting LIC - HELD THAT:- Admittedly, the petitioner has an alternate remedy of filing a complaint before the Securities and Exchange Board of India (SEBI). Learned counsel for SEBI states that the complaint, if any, made by the petitioner would be examined and the necessary decision would be taken. In view of this statement, no further orders are required to be passed in this petition except to direct that SEBI treat the present petition as a complaint and take an appropriate decision within a period of two weeks from today. It is so directed.
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